The Academy Awards to Depart Broadcast TV and Stream on YouTube Starting in the Year 2029.
The Academy Awards will commence airing only on the global video platform in the year 2029, marking the most recent substantial transformation in Hollywood.
The Academy of Motion Picture Arts and Sciences revealed the news on Wednesday, stating that it finalized a multi-year deal granting the streaming service the sole worldwide broadcasting rights to the Oscars through 2033.
The Oscars, scheduled for 15 March, has been televised for a half a century on the traditional network. Commencing in 2029, the event will be accessible as a free live stream on the digital platform.
It's one more significant shakeup in the entertainment world, which is dealing with corporate acquisitions and consolidations, coupled with steep slashes to movie budgets.
"Our Academy represents an worldwide body, and this collaboration will permit us to expand access to the work of the Academy to the largest worldwide audience possible - which will be beneficial for our Academy members and the film community," stated the Academy's executives in a release.
Over decades, audience numbers of the awards show have fallen, even if there was a minor increase in 2025, with a considerable amount of Gen Z and millennial watchers tuning in from cell phones and desktops.
In a related comment, YouTube's CEO referred to the Oscars "among our fundamental cultural institutions" and added that partnering with the Academy would "inspire a new generation of innovation and film lovers while remaining faithful to the Oscars' illustrious legacy".
The broadcast network, which has televised the ceremony since the mid-1970s, stated that it was eagerly anticipating "to hosting the event three more times" it will retain rights for.
This decision coincides with film industry giants confront challenging merger discussions. These potential deals were considered concerning for an sector that has seen severe reductions over the last few years.
Similar to big production houses, traditional TV channels have struggled as the audience has chosen digital platforms instead.
YouTube winning the license to the Oscars further suggests that the dominance of online services will persist to grow.
