The Oscars Will Leave ABC and Broadcast Live on YouTube Beginning in the Year 2029.
The Academy Awards will begin streaming exclusively on YouTube in 2029, marking the most recent major shift in the film industry.
The organization behind the Oscars declared the decision on Wednesday, indicating that it signed a extended contract granting the streaming service the unique international license to the Oscars until 2033.
The Oscars, set for March 15th, has aired for five decades on the traditional network. Beginning in 2029, the ceremony will be viewable live and for free on YouTube.
It's one more significant shakeup in Hollywood, which is navigating corporate acquisitions and consolidations, along with steep reductions in filming.
"The Academy is an global institution, and this partnership will allow us to increase availability to the mission of the Academy to the biggest global viewership imaginable - which will be advantageous for our film artists and the cinematic world," stated the Academy's executives in a statement.
For many years, viewership of the televised event have dropped, even if there was a slight uptick in 2025, with a notable portion of youthful audiences watching from mobile devices and computers.
In a separate statement, the video platform's chief executive called the Oscars "among our fundamental cultural institutions" and said that partnering with the Academy would "inspire a new generation of innovation and cinema enthusiasts while remaining faithful to the Oscars' illustrious history".
The broadcast network, which has streamed the awards since the mid-1970s, commented that it was eagerly anticipating "to hosting the event three more times" it will retain rights for.
The move follows major studios face complex corporate battles. These potential deals were seen as unfavourable for an business that has experienced significant downsizing over the recent period.
Similar to major studios, cable networks have faced issues as the viewers has chosen digital platforms as an alternative.
YouTube obtaining the license to the Academy Awards further suggests that reliance on streaming sites will carry on expanding.