The Academy Awards Are Exiting Broadcast TV and Stream on YouTube Starting in 2029.
The Academy Awards are set to start airing only on YouTube in 2029, marking the newest major transformation in the film industry.
The organization behind the Oscars declared the decision on this week, indicating that it signed a multi-year deal awarding the streaming service the exclusive global rights to the Oscars until 2033.
The Oscars, scheduled for 15 March, has been broadcast for a half a century on the traditional network. Starting in 2029, the show will be available as a free live stream on YouTube.
This is one more substantial upheaval in the entertainment world, which is dealing with company buyouts and fusions, coupled with severe slashes to movie budgets.
"Our Academy represents an international organization, and this collaboration will enable us to increase availability to the mission of the Academy to the biggest global viewership possible - which will be advantageous for our film artists and the film community," remarked organization heads in a release.
For many years, ratings of the televised event have dropped, although there was a minor increase in recent years, with a notable portion of younger viewers streaming from cell phones and desktops.
In a related comment, the head of YouTube described the Oscars "among our vital cultural touchstones" and added that partnering with the Academy would "spark a fresh wave of creativity and film lovers while remaining faithful to the Oscars' celebrated history".
The broadcast network, which has streamed the ceremony since the mid-1970s, commented that it was excited "to the upcoming broadcasts" it will retain rights for.
This shift follows major studios deal with challenging merger discussions. These potential deals were viewed as concerning for an sector that has seen severe reductions over the recent period.
Like big production houses, cable networks have faced issues as the viewers has shifted towards streaming services as an alternative.
YouTube winning broadcasting rights to the Academy Awards clearly signals that reliance on digital platforms will persist increasing.
