The Academy Awards to Depart ABC and Broadcast Live on YouTube Beginning in the Year 2029.
The Oscars ceremony are set to start broadcasting solely on YouTube in the year 2029, signaling the most recent significant change in Hollywood.
The organization behind the Oscars revealed the news on this week, stating that it signed a long-term agreement awarding the streaming service the exclusive global rights to the Oscars through 2033.
The awards show, which is planned for March 15th, has been broadcast for 50 years on ABC. Commencing in 2029, the show will be accessible in real-time without charge on YouTube.
This is a further substantial restructuring in Hollywood, which is navigating studio sales and mergers, in addition to drastic reductions in filming.
"The Academy is an international organization, and this alliance will allow us to expand access to the work of the Academy to the most extensive international crowd possible - which will be positive for our Academy members and the cinematic world," stated Academy leadership in a release.
Throughout a long period, viewership of the awards show have dropped, although there was a small rise in recent years, with a considerable amount of Gen Z and millennial watchers tuning in from cell phones and desktops.
In a corresponding announcement, YouTube's CEO referred to the Oscars "among our essential cultural touchstones" and noted that working with the Academy would "inspire a new generation of creativity and film lovers while remaining faithful to the Oscars' celebrated heritage".
ABC, which has aired the ceremony since the mid-1970s, said that it was looking forward "to hosting the event three more times" it will continue to air.
This shift follows film industry giants face challenging merger discussions. Both options were viewed as unfavourable for an industry that has seen significant downsizing over the last few years.
Similar to major studios, traditional TV channels have faced issues as the public has increasingly opted for on-demand video as an alternative.
The platform securing broadcasting rights to the Oscars further suggests that dependence on digital platforms will continue increasing.
