The Academy Awards to Depart ABC and Broadcast Live on the Video Platform Beginning in 2029.
The Oscars ceremony will begin broadcasting solely on YouTube in the year 2029, signaling the most recent major transformation in the film industry.
The organization behind the Oscars revealed the news on this week, stating that it signed a extended contract giving YouTube the sole worldwide broadcasting rights to the Oscars until 2033.
The awards show, scheduled for 15 March, has been broadcast for a half a century on the traditional network. Beginning in 2029, the show will be available as a free live stream on YouTube.
It's a further substantial shakeup in Hollywood, which is dealing with company buyouts and fusions, coupled with severe production cuts.
"Our Academy represents an worldwide body, and this collaboration will allow us to broaden reach to the mission of the Academy to the most extensive international crowd attainable - which will be positive for our Academy members and the cinematic world," said the Academy's executives in a statement.
Over decades, ratings of the televised event have dropped, even if there was a slight uptick in 2025, with a considerable amount of Gen Z and millennial watchers streaming from smartphones and computers.
In a related comment, the video platform's chief executive called the Oscars "one of our vital pillars of culture" and added that partnering with the Academy would "inspire a new generation of creativity and film lovers while staying true to the Oscars' illustrious history".
ABC, which has streamed the ceremony since 1976, stated that it was looking forward "to hosting the event three more times" it will retain rights for.
The move comes as film industry giants deal with intricate takeover attempts. Such proposals were viewed as concerning for an sector that has witnessed severe reductions over the recent period.
In common with big production houses, cable networks have struggled as the viewers has chosen digital platforms instead.
YouTube obtaining the license to the Oscars strongly indicates that reliance on digital platforms will carry on expanding.
