The Academy Awards Will Leave Broadcast TV and Stream on the Video Platform Starting in the Year 2029.
The Academy Awards will begin streaming exclusively on YouTube in the year 2029, marking the most recent significant transformation in the film industry.
The organization behind the Oscars declared the decision on this week, confirming that it finalized a long-term agreement giving the streaming service the exclusive global rights to the Oscars through 2033.
The awards show, which is planned for 15 March, has been televised for five decades on ABC. Starting in 2029, the show will be viewable live and for free on YouTube.
This is a further major upheaval in Hollywood, which is grappling with company buyouts and fusions, along with steep production cuts.
"Our Academy represents an global institution, and this alliance will allow us to broaden reach to the activities of the Academy to the largest worldwide audience imaginable - which will be positive for our film artists and the film community," said the Academy's executives in a release.
For many years, audience numbers of the televised event have declined, even if there was a slight uptick in recent years, with a considerable amount of younger viewers watching from mobile devices and desktops.
In a related comment, the head of YouTube described the Oscars "one of our fundamental cultural institutions" and said that working with the Academy would "spark a younger cohort of creativity and cinema enthusiasts while staying true to the Oscars' celebrated legacy".
The broadcast network, which has streamed the ceremony since the mid-1970s, stated that it was eagerly anticipating "to the upcoming broadcasts" it will retain rights for.
This shift follows major studios deal with challenging merger discussions. Such proposals were seen as problematic for an sector that has seen severe reductions over the last few years.
In common with big production houses, traditional TV channels have encountered challenges as the viewers has shifted towards on-demand video instead.
YouTube winning rights to the Oscars strongly indicates that the dominance of digital platforms will persist to grow.
