The Academy Awards to Depart Broadcast TV and Broadcast Live on the Video Platform Beginning in 2029.
The Academy Awards will begin streaming exclusively on YouTube in the year 2029, marking the most recent significant change in Hollywood.
The organization behind the Oscars revealed the news on Wednesday, stating that it entered into a long-term agreement granting the streaming service the exclusive global rights to the Oscars up to 2033.
The awards show, set for 15 March, has been broadcast for five decades on ABC. Starting in 2029, the show will be viewable live and for free on the digital platform.
This is another major restructuring in Hollywood, which is navigating corporate acquisitions and consolidations, along with steep production cuts.
"The Academy is an global institution, and this collaboration will permit us to increase availability to the activities of the Academy to the biggest global viewership possible - which will be advantageous for our film artists and the cinematic world," said Academy leadership in a statement.
Over decades, audience numbers of the televised event have fallen, although there was a small rise in recent years, with a significant number of Gen Z and millennial watchers streaming from cell phones and computers.
In a corresponding announcement, the head of YouTube described the Oscars "a key vital cultural touchstones" and said that working with the Academy would "motivate a younger cohort of creativity and movie fans while staying true to the Oscars' storied history".
The broadcast network, which has televised the awards since 1976, commented that it was excited "to hosting the event three more times" it will still host.
The move follows film industry giants face complex corporate battles. Both options were considered problematic for an industry that has experienced drastic cuts over the last few years.
Like big production houses, cable networks have encountered challenges as the public has increasingly opted for streaming services as an alternative.
The platform securing the license to the Academy Awards clearly signals that dependence on streaming sites will persist to grow.
