The Oscars Are Exiting Broadcast TV and Broadcast Live on the Video Platform Starting in 2029.
The Oscars ceremony are set to start streaming exclusively on YouTube in 2029, signaling the most recent major shift in the film industry.
The organization behind the Oscars made the announcement on this week, confirming that it finalized a multi-year deal giving the streaming service the unique international license to the Oscars up to 2033.
The awards show, set for 15 March, has aired for 50 years on ABC. Commencing in 2029, the show will be available live and for free on the digital platform.
This is one more significant upheaval in the entertainment world, which is grappling with corporate acquisitions and consolidations, in addition to drastic slashes to movie budgets.
"Our Academy represents an international organization, and this partnership will enable us to broaden reach to the mission of the Academy to the biggest global viewership attainable - which will be advantageous for our Academy members and the film community," remarked Academy leadership in a announcement.
For many years, viewership of the awards show have declined, although there was a slight uptick in recent years, with a significant number of youthful audiences streaming from mobile devices and laptops.
In a separate statement, the head of YouTube referred to the Oscars "a key vital pillars of culture" and noted that teaming up with the Academy would "inspire a fresh wave of artistic expression and film lovers while adhering to the Oscars' illustrious heritage".
The broadcast network, which has televised the ceremony since 1976, stated that it was looking forward "to hosting the event three more times" it will still host.
The move comes as film industry giants confront complex corporate battles. Both options were considered problematic for an sector that has experienced severe reductions over the recent period.
In common with big production houses, traditional TV channels have encountered challenges as the viewers has increasingly opted for streaming services instead.
YouTube obtaining broadcasting rights to the Academy Awards clearly signals that reliance on digital platforms will carry on expanding.
