The Academy Awards to Depart Broadcast TV and Stream on YouTube Beginning in 2029.
The Oscars ceremony will commence broadcasting solely on YouTube in 2029, representing the latest significant transformation in Hollywood.
The Academy of Motion Picture Arts and Sciences revealed the news on this week, stating that it entered into a multi-year deal giving YouTube the sole worldwide broadcasting rights to the Oscars up to 2033.
The awards show, which is planned for March 15th, has been televised for 50 years on the traditional network. Commencing in 2029, the event will be available live and for free on the digital platform.
This is another significant upheaval in Hollywood, which is dealing with studio sales and mergers, in addition to steep reductions in filming.
"The Academy is an international organization, and this partnership will permit us to increase availability to the mission of the Academy to the largest worldwide audience imaginable - which will be advantageous for our membership and the film community," said Academy leadership in a release.
For many years, audience numbers of the awards show have fallen, although there was a small rise in recent years, with a notable portion of youthful audiences tuning in from mobile devices and desktops.
In a related comment, the head of YouTube described the Oscars "a key fundamental cultural touchstones" and said that teaming up with the Academy would "motivate a younger cohort of creativity and cinema enthusiasts while remaining faithful to the Oscars' celebrated history".
The broadcast network, which has aired the ceremony since 1976, commented that it was excited "to hosting the event three more times" it will still host.
This shift comes as large entertainment companies deal with challenging merger discussions. Both options were considered problematic for an business that has seen severe reductions over the past several years.
Similar to major studios, traditional TV channels have struggled as the audience has chosen streaming services as an alternative.
The platform securing broadcasting rights to the Oscars strongly indicates that the dominance of online services will persist expanding.
