🔗 Share this article

The Oscars ceremony will begin airing only on YouTube in 2029, signaling the latest major shift in the film industry.

The Academy of Motion Picture Arts and Sciences made the announcement on this week, indicating that it signed a multi-year deal granting the streaming service the exclusive global rights to the Oscars up to 2033.

The Oscars, scheduled for March 15th, has been televised for 50 years on ABC. Beginning in 2029, the show will be viewable live and for free on YouTube.

It's a further major upheaval in Hollywood, which is dealing with studio sales and mergers, in addition to drastic reductions in filming.

"Our Academy represents an international organization, and this collaboration will enable us to broaden reach to the mission of the Academy to the biggest global viewership imaginable - which will be advantageous for our film artists and the film community," said organization heads in a release.

Over decades, audience numbers of the awards show have declined, though there was a slight uptick in recent years, with a considerable amount of youthful audiences streaming from cell phones and desktops.

In a related comment, the head of YouTube referred to the Oscars "one of our vital cultural touchstones" and added that working with the Academy would "spark a fresh wave of creativity and film lovers while adhering to the Oscars' storied history".

ABC, which has aired the ceremony since 1976, stated that it was eagerly anticipating "to the next three telecasts" it will still host.

The move coincides with large entertainment companies confront challenging merger discussions. These potential deals were seen as problematic for an sector that has seen severe reductions over the last few years.

Similar to major studios, cable networks have struggled as the public has chosen on-demand video as an alternative.

YouTube winning the license to the Academy Awards further suggests that the dominance of digital platforms will persist increasing.