Every year, OUSD organizes the Martin Luther King, Jr. Oratorical Fest in its schools. The fest has been running for over 30 years and over 5,000 students participate annually.
The fest is a competition in which students recite oratory from memory, either individually or in groups. The pieces are short (3 mins max for individuals, 5 mins for groups) and can be in one of four categories: original poetry & essays, individual poetry (how is this different from "original poetry and essays"?), famous speeches and essays, choral speaking and dramatic skits. Every participating school can only submit 4 entries, so it seems that competition should be quite stiff, although it would be fantastic to have the perspective from people who have attended and/or participated in this event in the past for more information about what it's like.