The Oscars Are Exiting Broadcast TV and Broadcast Live on YouTube Starting in 2029.
The Oscars ceremony are set to start broadcasting solely on YouTube in 2029, marking the most recent significant transformation in Hollywood.
The Academy of Motion Picture Arts and Sciences declared the decision on Wednesday, indicating that it entered into a extended contract awarding the streaming service the sole worldwide broadcasting rights to the Oscars up to 2033.
The awards show, scheduled for March 15th, has been broadcast for five decades on ABC. Beginning in 2029, the show will be available live and for free on YouTube.
This is a further substantial restructuring in Hollywood, which is grappling with studio sales and mergers, coupled with steep reductions in filming.
"The Academy is an global institution, and this partnership will allow us to increase availability to the work of the Academy to the most extensive international crowd possible - which will be beneficial for our membership and the cinematic world," said organization heads in a statement.
Over decades, audience numbers of the awards show have fallen, although 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 cultural institutions" and said that partnering with the Academy would "spark a younger cohort of innovation and cinema enthusiasts while remaining faithful to the Oscars' storied history".
ABC, which has aired the awards since the mid-1970s, commented that it was eagerly anticipating "to the next three telecasts" it will still host.
The move comes as large entertainment companies deal with complex corporate battles. Both options were considered problematic for an sector that has seen severe reductions over the recent period.
In common with big production houses, traditional TV channels have encountered challenges as the audience has chosen digital platforms instead.
YouTube obtaining broadcasting rights to the Oscars further suggests that reliance on digital platforms will persist to grow.
