The Oscars Will Leave ABC and Broadcast Live on YouTube Starting in 2029.
The Oscars ceremony are set to start airing only on YouTube in 2029, representing the latest major transformation in the film industry.
The organization behind the Oscars declared the decision on this week, confirming that it entered into a extended contract giving YouTube the unique international license to the Oscars up to 2033.
The awards show, scheduled for 15 March, has aired for five decades on ABC. Commencing in 2029, the ceremony will be viewable in real-time without charge on the digital platform.
This is a further substantial shakeup in Hollywood, which is dealing with company buyouts and fusions, along with steep slashes to movie budgets.
"The Academy is an worldwide body, and this collaboration will permit us to expand access to the activities of the Academy to the biggest global viewership imaginable - which will be beneficial for our membership and the film community," said Academy leadership in a release.
Over decades, ratings of the ceremony have declined, even if there was a slight uptick in recent years, with a considerable amount of Gen Z and millennial watchers watching from smartphones and laptops.
In a corresponding announcement, YouTube's CEO referred to the Oscars "among our vital pillars of culture" and added that partnering with the Academy would "motivate a fresh wave of creativity and movie fans while remaining faithful to the Oscars' storied heritage".
The broadcast network, which has aired the ceremony since the mid-1970s, commented that it was excited "to the upcoming broadcasts" it will continue to air.
This decision coincides with major studios confront complex corporate battles. These potential deals were considered unfavourable for an sector that has seen severe reductions over the recent period.
Like big production houses, traditional TV channels have faced issues as the public has increasingly opted for streaming services as an alternative.
The platform securing the license to the Oscars strongly indicates that the dominance of streaming sites will persist expanding.
