The Oscars Will Leave Broadcast TV and Broadcast Live on the Video Platform Beginning in 2029.
The Academy Awards are set to start streaming exclusively on the global video platform in 2029, marking the latest substantial change in Hollywood.
The organization behind the Oscars made the announcement on Wednesday, stating that it finalized a multi-year deal giving the streaming service the unique international license to the Oscars until 2033.
The Oscars, scheduled for 15 March, has been televised for 50 years on ABC. Commencing in 2029, the show will be viewable as a free live stream on YouTube.
It's another substantial restructuring in Hollywood, which is navigating company buyouts and fusions, along with drastic production cuts.
"The Academy is an international organization, and this partnership will allow us to expand access to the activities of the Academy to the largest worldwide audience possible - which will be advantageous for our membership and the cinematic world," said Academy leadership in a announcement.
Throughout a long period, audience numbers of the awards show have fallen, although there was a slight uptick in recent years, with a considerable amount of youthful audiences tuning in from cell phones and computers.
In a related comment, the head of YouTube referred to the Oscars "among our fundamental cultural touchstones" and said that teaming up with the Academy would "spark a new generation of innovation and cinema enthusiasts while remaining faithful to the Oscars' storied history".
ABC, which has televised the awards since 1976, stated that it was eagerly anticipating "to the next three telecasts" it will continue to air.
This shift follows large entertainment companies confront intricate takeover attempts. Both options were considered concerning for an business that has experienced severe reductions over the recent period.
Like big production houses, cable networks have encountered challenges as the audience has increasingly opted for streaming services as an alternative.
YouTube winning the license to the Academy Awards strongly indicates that reliance on streaming sites will continue to grow.
