The Academy Awards Will Leave ABC and Stream on YouTube Beginning in the Year 2029.
The Oscars ceremony will commence broadcasting solely on YouTube in the year 2029, signaling the most recent major transformation in the film industry.
The Academy of Motion Picture Arts and Sciences revealed the news on this week, stating that it entered into a long-term agreement giving YouTube the exclusive global rights to the Oscars through 2033.
The awards show, set for 15 March, has been broadcast for a half a century on the traditional network. Commencing in 2029, the event will be accessible live and for free on the digital platform.
It's another substantial upheaval in Hollywood, which is dealing with studio sales and mergers, in addition to drastic slashes to movie budgets.
"The Academy is an worldwide body, and this partnership will permit 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," remarked the Academy's executives in a announcement.
For many years, ratings of the televised event have fallen, even if there was a slight uptick in 2025, with a considerable amount of Gen Z and millennial watchers watching from cell phones and computers.
In a separate statement, the video platform's chief executive referred to the Oscars "among our vital pillars of culture" and added that teaming up with the Academy would "motivate a younger cohort of artistic expression and film lovers while remaining faithful to the Oscars' illustrious heritage".
ABC, which has televised the ceremony since the mid-1970s, said that it was excited "to hosting the event three more times" it will still host.
The move comes as major studios face challenging merger discussions. Both options were viewed as unfavourable for an sector that has experienced severe reductions over the past several years.
In common with major studios, traditional TV channels have faced issues as the viewers has increasingly opted for digital platforms instead.
The platform securing rights to the Academy Awards clearly signals that reliance on digital platforms will persist to grow.
