The Academy Awards Will Leave Broadcast TV and Broadcast Live on YouTube Beginning in 2029.
The Academy Awards will commence streaming exclusively on YouTube in 2029, representing the most recent major transformation in the film industry.
The organization behind the Oscars made the announcement on Wednesday, confirming that it entered into a long-term agreement granting YouTube the sole worldwide broadcasting rights to the Oscars until 2033.
The awards show, set for 15 March, has been broadcast for 50 years on ABC. Starting in 2029, the show will be available in real-time without charge on YouTube.
It's one more substantial upheaval in the entertainment world, which is navigating company buyouts and fusions, coupled with drastic production cuts.
"The Academy is an global institution, and this alliance will allow us to expand access to the activities of the Academy to the biggest global viewership attainable - which will be beneficial for our Academy members and the movie industry," stated the Academy's executives in a release.
For many years, ratings of the ceremony have fallen, though there was a minor increase in recent years, with a notable portion of Gen Z and millennial watchers tuning in from smartphones and computers.
In a separate statement, the head of YouTube called the Oscars "one of our vital cultural touchstones" and said that working with the Academy would "motivate a younger cohort of creativity and movie fans while remaining faithful to the Oscars' celebrated history".
ABC, which has streamed the ceremony since 1976, commented that it was looking forward "to the upcoming broadcasts" it will still host.
This shift comes as film industry giants confront intricate takeover attempts. Both options were seen as concerning for an business that has seen severe reductions over the last few years.
Similar to major studios, traditional TV channels have struggled as the audience has increasingly opted for streaming services instead.
YouTube winning broadcasting rights to the Academy Awards strongly indicates that dependence on digital platforms will continue expanding.
