🔗 Share this article

The Oscars ceremony will commence airing only on YouTube in the year 2029, signaling the latest substantial change in the film industry.

The organization behind the Oscars declared the decision on this week, stating that it signed a multi-year deal granting the streaming service the exclusive global rights to the Oscars until 2033.

The Oscars, set for March 15th, has been televised for a half a century on ABC. Commencing in 2029, the event will be available live and for free on the digital platform.

This is a further significant upheaval in Hollywood, which is dealing with studio sales and mergers, in addition to severe reductions in filming.

"The Academy is an global institution, and this collaboration will permit us to broaden reach to the activities of the Academy to the biggest global viewership imaginable - which will be positive for our Academy members and the movie industry," remarked organization heads in a announcement.

Over decades, audience numbers of the ceremony have declined, though there was a slight uptick in recent years, with a significant number of youthful audiences tuning in from cell phones and laptops.

In a related comment, the head of YouTube referred to the Oscars "a key fundamental cultural institutions" and noted that working with the Academy would "motivate a younger cohort of innovation and film lovers while staying true to the Oscars' storied legacy".

ABC, which has aired the awards since the mid-1970s, stated that it was excited "to hosting the event three more times" it will continue to air.

This shift comes as film industry giants confront intricate takeover attempts. Such proposals were considered concerning for an business that has seen significant downsizing over the last few years.

Similar to big production houses, cable networks have encountered challenges as the public has chosen on-demand video instead.

YouTube obtaining the license to the Academy Awards strongly indicates that dependence on digital platforms will persist increasing.