The Academy Awards to Depart Broadcast TV and Stream on YouTube Starting in the Year 2029.
The Academy Awards will commence broadcasting solely on the global video platform in 2029, marking the most recent substantial transformation in Hollywood.
The organization behind the Oscars revealed the news on this week, indicating that it signed a long-term agreement awarding YouTube the sole worldwide broadcasting rights to the Oscars until 2033.
The awards show, scheduled for March 15th, has aired for a half a century on ABC. Commencing in 2029, the show will be accessible in real-time without charge on the digital platform.
This is another major shakeup in the entertainment world, which is dealing with studio sales and mergers, in addition to steep slashes to movie budgets.
"The Academy is an international organization, and this alliance will enable us to expand access to the work of the Academy to the biggest global viewership imaginable - which will be beneficial for our film artists and the cinematic world," said organization heads in a statement.
Throughout a long period, ratings of the televised event have dropped, even if there was a slight uptick in 2025, with a considerable amount of Gen Z and millennial watchers streaming from cell phones and desktops.
In a corresponding announcement, the head of YouTube referred to the Oscars "among our fundamental pillars of culture" and added that working with the Academy would "inspire a younger cohort of artistic expression and movie fans while adhering to the Oscars' illustrious history".
ABC, which has televised the ceremony since the mid-1970s, commented that it was eagerly anticipating "to hosting the event three more times" it will retain rights for.
This decision comes as film industry giants confront intricate takeover attempts. Both options were viewed as concerning for an sector that has witnessed severe reductions over the last few years.
Similar to big production houses, traditional TV channels have faced issues as the viewers has increasingly opted for on-demand video as an alternative.
The platform securing broadcasting rights to the Academy Awards strongly indicates that reliance on digital platforms will carry on to grow.
