The Oscars to Depart Broadcast TV and Broadcast Live on the Video Platform Starting in the Year 2029.
The Oscars ceremony are set to start broadcasting solely on the global video platform in 2029, signaling the most recent significant transformation in the film industry.
The organization behind the Oscars made the announcement on this week, stating that it entered into a extended contract giving the streaming service the sole worldwide broadcasting rights to the Oscars up to 2033.
The Oscars, set for March 15th, has been broadcast for a half a century on the traditional network. Beginning in 2029, the ceremony will be available as a free live stream on the digital platform.
It's a further significant shakeup in Hollywood, which is navigating company buyouts and fusions, along with severe slashes to movie budgets.
"The Academy is an worldwide body, and this alliance will allow us to broaden reach to the activities of the Academy to the largest worldwide audience imaginable - which will be advantageous for our film artists and the cinematic world," stated the Academy's executives in a release.
For many years, viewership of the televised event have fallen, even if there was a slight uptick in 2025, with a significant number of younger viewers watching from smartphones and computers.
In a separate statement, the video platform's chief executive called the Oscars "a key fundamental pillars of culture" and said that working with the Academy would "motivate a new generation of creativity and cinema enthusiasts while staying true to the Oscars' illustrious heritage".
ABC, which has aired the awards since the mid-1970s, stated that it was eagerly anticipating "to the next three telecasts" it will still host.
This decision follows film industry giants confront intricate takeover attempts. These potential deals were considered concerning for an industry that has seen significant downsizing over the last few years.
Like big production houses, traditional TV channels have faced issues as the viewers has shifted towards streaming services instead.
YouTube winning rights to the Oscars further suggests that dependence on digital platforms will carry on increasing.
