The Academy Awards Will Leave Broadcast TV and Stream on YouTube Starting in the Year 2029.
The Academy Awards will commence streaming exclusively on YouTube in the year 2029, marking the latest major transformation in Hollywood.
The Academy of Motion Picture Arts and Sciences revealed the news on this week, stating that it entered into a long-term agreement giving YouTube the sole worldwide broadcasting rights to the Oscars through 2033.
The Oscars, which is planned for March 15th, has aired for five decades on ABC. Starting in 2029, the show will be accessible live and for free on YouTube.
It's one more major shakeup in the entertainment world, which is dealing with studio sales and mergers, in addition to steep reductions in filming.
"The Academy is an international organization, and this alliance will enable us to increase availability to the activities of the Academy to the most extensive international crowd imaginable - which will be beneficial for our membership and the cinematic world," stated organization heads in a release.
Throughout a long period, audience numbers of the awards show have dropped, though there was a slight uptick in recent years, with a significant number of Gen Z and millennial watchers watching from mobile devices and computers.
In a separate statement, YouTube's CEO described the Oscars "a key vital pillars of culture" and added that teaming up with the Academy would "motivate a new generation of creativity and film lovers while staying true to the Oscars' storied heritage".
The broadcast network, which has aired the ceremony since the mid-1970s, stated that it was eagerly anticipating "to the upcoming broadcasts" it will still host.
This decision coincides with large entertainment companies deal with complex corporate battles. Such proposals were seen as concerning for an business that has experienced severe reductions over the past several years.
Similar to big production houses, traditional TV channels have faced issues as the audience has chosen digital platforms instead.
The platform securing rights to the Oscars clearly signals that the dominance of streaming sites will continue increasing.
