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The Academy Awards to Depart ABC and Broadcast Live on the Video Platform Starting in 2029.
The Academy Awards are set to start streaming exclusively on YouTube in 2029, representing the latest significant transformation in the film industry.
The organization behind the Oscars made the announcement on this week, indicating that it signed a multi-year deal granting the streaming service the sole worldwide broadcasting rights to the Oscars through 2033.
The Oscars, which is planned for March 15th, has been televised for five decades on ABC. Commencing in 2029, the event will be accessible in real-time without charge on YouTube.
This is another major upheaval in the entertainment world, which is navigating studio sales and mergers, coupled with drastic reductions in filming.
"Our Academy represents an worldwide body, and this alliance will permit us to increase availability to the mission of the Academy to the most extensive international crowd imaginable - which will be positive for our film artists and the cinematic world," said Academy leadership in a release.
Throughout a long period, ratings of the ceremony have dropped, although there was a slight uptick in recent years, with a considerable amount of youthful audiences tuning in from smartphones and desktops.
In a related comment, the head of YouTube called the Oscars "among our essential pillars of culture" and noted that working with the Academy would "inspire a new generation of innovation and film lovers while adhering to the Oscars' illustrious legacy".
The broadcast network, which has aired the ceremony since the mid-1970s, said that it was looking forward "to the upcoming broadcasts" it will retain rights for.
The move coincides with large entertainment companies confront challenging merger discussions. These potential deals were viewed as concerning for an business that has witnessed drastic cuts over the recent period.
Similar to major studios, traditional TV channels have faced issues as the audience has increasingly opted for on-demand video instead.
YouTube obtaining broadcasting rights to the Oscars strongly indicates that dependence on online services will persist expanding.
Kim Ramirez
A passionate golfer and journalist with over a decade of experience covering PGA tours and equipment innovations.
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