The Oscars to Depart ABC and Stream on the Video Platform Beginning in the Year 2029.
The Oscars ceremony will begin airing only on the global video platform in the year 2029, representing the latest significant shift in the film industry.
The Academy of Motion Picture Arts and Sciences revealed the news on Wednesday, confirming that it entered into a extended contract awarding YouTube the unique international license to the Oscars through 2033.
The awards show, set for 15 March, has been televised for 50 years on ABC. Starting in 2029, the ceremony will be available in real-time without charge on YouTube.
This is another substantial restructuring in Hollywood, which is navigating studio sales and mergers, in addition to drastic slashes to movie budgets.
"The Academy is an global institution, and this alliance will allow us to expand access to the activities of the Academy to the biggest global viewership attainable - which will be advantageous for our membership and the film community," remarked Academy leadership in a release.
For many years, audience numbers of the ceremony have declined, though there was a minor increase in recent years, with a significant number of youthful audiences streaming from smartphones and computers.
In a separate statement, the video platform's chief executive called the Oscars "among our essential cultural touchstones" and said that teaming up with the Academy would "spark a new generation of innovation and cinema enthusiasts while staying true to the Oscars' storied heritage".
ABC, which has aired the ceremony since 1976, said that it was looking forward "to the next three telecasts" it will retain rights for.
The move coincides with large entertainment companies face complex corporate battles. These potential deals were considered problematic for an sector that has experienced severe reductions over the last few years.
In common with major studios, traditional TV channels have faced issues as the audience has shifted towards on-demand video as an alternative.
YouTube winning the license to the Academy Awards clearly signals that dependence on online services will persist increasing.
