The Oscars Will Leave Broadcast TV and Stream on the Video Platform Starting in 2029.
The Academy Awards will begin streaming exclusively on the global video platform in the year 2029, representing the newest significant change in Hollywood.
The organization behind the Oscars declared the decision on this week, confirming that it signed a multi-year deal granting YouTube the exclusive global rights to the Oscars through 2033.
The awards show, which is planned for March 15th, has aired for 50 years on the traditional network. Beginning in 2029, the event will be available live and for free on YouTube.
It's one more major shakeup in Hollywood, which is grappling with studio sales and mergers, along with severe reductions in filming.
"Our Academy represents an international organization, and this partnership will permit us to expand access to the mission of the Academy to the most extensive international crowd possible - which will be beneficial for our membership and the film community," said the Academy's executives in a statement.
Throughout a long period, viewership of the awards show have declined, though there was a small rise in recent years, with a significant number of Gen Z and millennial watchers tuning in from mobile devices and computers.
In a related comment, the video platform's chief executive described the Oscars "among our essential pillars of culture" and said that partnering with the Academy would "inspire a fresh wave of innovation and movie fans while adhering to the Oscars' celebrated history".
ABC, which has televised the ceremony since the mid-1970s, said that it was looking forward "to the upcoming broadcasts" it will still host.
This decision follows film industry giants deal with complex corporate battles. Such proposals were seen as concerning for an industry that has witnessed severe reductions over the recent period.
In common with major studios, cable networks have encountered challenges as the viewers has chosen streaming services as an alternative.
YouTube obtaining rights to the Academy Awards strongly indicates that the dominance of online services will persist increasing.
