The Oscars Will Leave ABC and Stream on the Video Platform Starting in 2029.
The Academy Awards will begin broadcasting solely on YouTube in 2029, representing the newest significant change in the film industry.
The organization behind the Oscars revealed the news on this week, confirming that it entered into a extended contract giving the streaming service the sole worldwide broadcasting rights to the Oscars up to 2033.
The Oscars, which is planned for 15 March, has been broadcast for 50 years on ABC. Commencing in 2029, the show will be available in real-time without charge on YouTube.
It's one more major restructuring 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 allow us to broaden reach to the activities of the Academy to the biggest global viewership possible - which will be beneficial for our film artists and the movie industry," stated organization heads in a announcement.
For many years, viewership of the awards show have declined, although there was a slight uptick in recent years, with a notable portion of Gen Z and millennial watchers tuning in from cell phones and laptops.
In a corresponding announcement, the video platform's chief executive described the Oscars "among our vital cultural institutions" and added that working with the Academy would "motivate a new generation of creativity and film lovers while remaining faithful to the Oscars' storied heritage".
The broadcast network, which has televised the ceremony since the mid-1970s, said that it was excited "to the next three telecasts" it will retain rights for.
This decision follows major studios face challenging merger discussions. Such proposals were seen as problematic for an sector that has witnessed drastic cuts over the last few years.
In common with major studios, cable networks have struggled as the public has chosen streaming services instead.
YouTube obtaining rights to the Academy Awards further suggests that reliance on digital platforms will carry on expanding.
