The Oscars Will Leave Broadcast TV and Stream on the Video Platform Starting in 2029.
The Oscars ceremony are set to start broadcasting solely on YouTube in 2029, marking the latest substantial change in Hollywood.
The organization behind the Oscars declared the decision on this week, confirming that it signed a long-term agreement giving the streaming service the sole worldwide broadcasting rights to the Oscars through 2033.
The Oscars, scheduled for March 15th, has aired for 50 years on ABC. Beginning in 2029, the show will be viewable in real-time without charge on YouTube.
It's another major shakeup in the entertainment world, which is dealing with corporate acquisitions and consolidations, along with severe production cuts.
"Our Academy represents an worldwide body, and this partnership will enable us to broaden reach to the mission of the Academy to the largest worldwide audience imaginable - which will be positive for our membership and the cinematic world," remarked organization heads in a release.
Throughout a long period, audience numbers of the televised event have dropped, even if there was a minor increase in recent years, with a considerable amount of Gen Z and millennial watchers tuning in from mobile devices and desktops.
In a corresponding announcement, YouTube's CEO called the Oscars "one of our vital cultural institutions" and noted that partnering with the Academy would "inspire a younger cohort of creativity and film lovers while remaining faithful to the Oscars' storied legacy".
The broadcast network, which has streamed the ceremony since 1976, said that it was looking forward "to the upcoming broadcasts" it will still host.
This decision coincides with major studios face complex corporate battles. Such proposals were viewed as concerning for an sector that has experienced drastic cuts over the past several years.
In common with big production houses, traditional TV channels have faced issues as the audience has chosen digital platforms instead.
The platform securing the license to the Oscars further suggests that dependence on streaming sites will carry on increasing.
