The 1st Annual Premios Odeón was held on January 20, 2020 at the Teatro Real in Madrid. It was broadcast on Televisión Española at 10 p.m. CET. Nominations were revealed on December 19, 2019 during a press conference where they stated that "this award ceremony is considered the successor of the Premios Amigo and the Premios de la Música" which were canceled in 2007 and 2012 due to the Spanish economical crisis as well as the lack of strength of the Spanish musical industry. Thus, the fact that this award show were able to happen symbolizes the revival of the Spanish musical industry after a long period of weakness and irrelevance.