The Oscars Will Leave Broadcast TV and Broadcast Live on the Video Platform Beginning in 2029.
The Academy Awards are set to start broadcasting solely on YouTube in 2029, marking the latest significant change in Hollywood.
The Academy of Motion Picture Arts and Sciences revealed the news on this week, confirming that it signed a long-term agreement awarding the streaming service the unique international license to the Oscars through 2033.
The awards show, which is planned for 15 March, has been televised for five decades on ABC. Beginning in 2029, the show will be available in real-time without charge on YouTube.
It's another substantial restructuring in Hollywood, which is grappling with studio sales and mergers, coupled with steep reductions in filming.
"The Academy is an global institution, and this alliance will enable us to broaden reach to the mission of the Academy to the most extensive international crowd imaginable - which will be beneficial for our membership and the cinematic world," stated the Academy's executives in a announcement.
Over decades, ratings of the televised event have fallen, though there was a small rise in recent years, with a considerable amount of younger viewers streaming from smartphones and desktops.
In a related comment, YouTube's CEO referred to the Oscars "among our fundamental cultural institutions" and added that working with the Academy would "spark a younger cohort of innovation and film lovers while staying true to the Oscars' illustrious history".
ABC, which has streamed the ceremony since the mid-1970s, said that it was looking forward "to hosting the event three more times" it will continue to air.
The move comes as large entertainment companies deal with complex corporate battles. Both options were viewed as concerning for an business that has seen severe reductions over the past several years.
In common with big production houses, traditional TV channels have struggled as the viewers has increasingly opted for digital platforms instead.
The platform securing broadcasting rights to the Oscars further suggests that reliance on online services will persist to grow.
