The Oscars Are Exiting Broadcast TV and Stream on the Video Platform Starting in 2029.
The Oscars ceremony are set to start streaming exclusively on YouTube in 2029, signaling the newest substantial transformation in the film industry.
The Academy of Motion Picture Arts and Sciences made the announcement on Wednesday, confirming that it signed a long-term agreement granting YouTube the unique international license to the Oscars up to 2033.
The awards show, which is planned for March 15th, has been broadcast for 50 years on ABC. Starting in 2029, the ceremony will be viewable as a free live stream on YouTube.
This is a further significant upheaval in the entertainment world, which is navigating company buyouts and fusions, in addition to severe reductions in filming.
"Our Academy represents an global institution, and this alliance will enable us to expand access to the mission of the Academy to the most extensive international crowd imaginable - which will be beneficial for our membership and the movie industry," stated Academy leadership in a release.
For many years, audience numbers of the ceremony have dropped, though there was a slight uptick in recent years, with a significant number of youthful audiences streaming from smartphones and computers.
In a corresponding announcement, YouTube's CEO referred to the Oscars "one of our vital cultural touchstones" and noted that partnering with the Academy would "spark a fresh wave of creativity and movie fans while adhering to the Oscars' illustrious history".
The broadcast network, which has aired the awards since the mid-1970s, commented that it was looking forward "to hosting the event three more times" it will retain rights for.
This shift coincides with major studios face complex corporate battles. These potential deals were considered unfavourable for an industry that has seen significant downsizing over the last few years.
In common with major studios, cable networks have encountered challenges as the public has increasingly opted for streaming services instead.
YouTube winning the license to the Oscars strongly indicates that the dominance of digital platforms will continue increasing.
