The Oscars to Depart ABC and Broadcast Live on YouTube Beginning in 2029.
The Academy Awards will begin streaming exclusively on the global video platform in the year 2029, signaling the most recent substantial change in the film industry.
The organization behind the Oscars revealed the news on this week, confirming that it finalized a long-term agreement awarding the streaming service the unique international license to the Oscars through 2033.
The awards show, scheduled for 15 March, has aired for five decades on ABC. Starting in 2029, the ceremony will be viewable live and for free on YouTube.
This is a further major shakeup in Hollywood, which is grappling with company buyouts and fusions, in addition to steep slashes to movie budgets.
"The Academy is an international organization, and this alliance will enable us to expand access to the work of the Academy to the most extensive international crowd possible - which will be beneficial for our Academy members and the cinematic world," remarked the Academy's executives in a statement.
Over decades, audience numbers of the awards show have fallen, though there was a small rise in recent years, with a significant number of youthful audiences streaming from smartphones and computers.
In a related comment, YouTube's CEO called the Oscars "among our fundamental cultural institutions" and added that partnering with the Academy would "inspire a new generation of artistic expression and movie fans while adhering to the Oscars' celebrated heritage".
ABC, which has streamed the ceremony since 1976, stated that it was excited "to hosting the event three more times" it will still host.
The move comes as large entertainment companies confront complex corporate battles. Such proposals were seen as concerning for an industry that has seen severe reductions over the past several years.
In common with big production houses, cable networks have struggled as the audience has increasingly opted for on-demand video instead.
YouTube winning broadcasting rights to the Academy Awards strongly indicates that reliance on digital platforms will carry on to grow.
