Film studios care about this award (5)
I believe the answer is:
oscar
'this award' is the definition.
(Academy Award)
'film studios care about' is the wordplay.
'about' says the answer is hidden in the clue (the clue goes around or about the answer).
'OSCAR' is hidden within 'film studios care'.
(Other definitions for oscar that I've seen before include "Film-prize statuette" , "Comms code for "O"" , "Film acting award" , "- - Hammerstein (musicals)" , "academy's prize" .)