The Oscars Will Leave ABC and Stream on the Video Platform Beginning in 2029.
The Academy Awards are set to start broadcasting solely on the global video platform in 2029, marking the newest major shift in Hollywood.
The Academy of Motion Picture Arts and Sciences declared the decision on this week, indicating that it entered into a extended contract awarding the streaming service the exclusive global rights to the Oscars through 2033.
The awards show, scheduled for 15 March, has been broadcast for 50 years on the traditional network. Starting in 2029, the show will be accessible as a free live stream on the digital platform.
It's another substantial shakeup in Hollywood, which is grappling with corporate acquisitions and consolidations, in addition to drastic slashes to movie budgets.
"The Academy is an international organization, and this partnership will allow us to increase availability to the work of the Academy to the most extensive international crowd imaginable - which will be advantageous for our membership and the movie industry," remarked organization heads in a release.
Over decades, viewership of the awards show have fallen, even if there was a minor increase in 2025, with a notable portion of Gen Z and millennial watchers tuning in from mobile devices and computers.
In a corresponding announcement, YouTube's CEO called the Oscars "a key fundamental pillars of culture" and noted that working with the Academy would "inspire a fresh wave of creativity and cinema enthusiasts while adhering to the Oscars' celebrated history".
The broadcast network, which has streamed the ceremony since 1976, commented that it was looking forward "to the next three telecasts" it will still host.
The move follows major studios deal with challenging merger discussions. These potential deals were seen as problematic for an industry that has seen severe reductions over the last few years.
Similar to major studios, traditional TV channels have struggled as the public has chosen streaming services instead.
YouTube obtaining the license to the Oscars further suggests that dependence on streaming sites will carry on to grow.