The Oscars Are Exiting Broadcast TV and Broadcast Live on the Video Platform Starting in 2029.
The Academy Awards are set to start airing only on YouTube in 2029, marking the latest major change in Hollywood.
The Academy of Motion Picture Arts and Sciences revealed the news on Wednesday, indicating that it finalized a extended contract granting the streaming service the unique international license to the Oscars through 2033.
The awards show, which is planned for 15 March, has aired for a half a century on the traditional network. Beginning in 2029, the event will be viewable live and for free on the digital platform.
This is another substantial shakeup in Hollywood, which is navigating company buyouts and fusions, along with severe production cuts.
"The Academy is an worldwide body, and this alliance will permit us to increase availability to the mission of the Academy to the most extensive international crowd possible - which will be positive for our Academy members and the film community," remarked organization heads in a release.
For many years, ratings of the ceremony have dropped, although there was a small rise in recent years, with a notable portion of Gen Z and millennial watchers tuning in from smartphones and desktops.
In a related comment, the head of YouTube referred to the Oscars "a key essential cultural touchstones" and said that teaming up with the Academy would "motivate a fresh wave of artistic expression and cinema enthusiasts while remaining faithful to the Oscars' celebrated history".
ABC, which has aired the ceremony since the mid-1970s, said that it was excited "to the next three telecasts" it will still host.
This decision coincides with large entertainment companies confront challenging merger discussions. These potential deals were considered concerning for an sector that has experienced severe reductions over the past several years.
In common with big production houses, cable networks have struggled as the public has chosen on-demand video instead.
YouTube obtaining the license to the Academy Awards clearly signals that reliance on streaming sites will persist increasing.
