The Academy Awards Will Leave Broadcast TV and Broadcast Live on the Video Platform Beginning in 2029.
The Oscars ceremony will begin broadcasting solely on YouTube in the year 2029, marking the latest major change in Hollywood.
The Academy of Motion Picture Arts and Sciences revealed the news on this week, confirming that it finalized a multi-year deal giving YouTube the exclusive global rights to the Oscars until 2033.
The Oscars, scheduled for 15 March, has aired for a half a century on the traditional network. Commencing in 2029, the ceremony will be viewable live and for free on YouTube.
This is a further substantial upheaval in Hollywood, which is navigating studio sales and mergers, along with severe slashes to movie budgets.
"Our Academy represents an international organization, and this alliance will enable us to expand access to the activities of the Academy to the biggest global viewership attainable - which will be advantageous for our film artists and the film community," stated Academy leadership in a announcement.
Throughout a long period, audience numbers of the televised event have declined, although there was a minor increase in recent years, with a significant number of younger viewers tuning in from mobile devices and desktops.
In a separate statement, the head of YouTube called the Oscars "among our vital pillars of culture" and said that working with the Academy would "inspire a fresh wave of artistic expression and film lovers while remaining faithful to the Oscars' storied legacy".
The broadcast network, which has televised the awards since the mid-1970s, commented that it was looking forward "to the upcoming broadcasts" it will continue to air.
The move comes as major studios face complex corporate battles. These potential deals were seen as problematic for an industry that has experienced drastic cuts over the last few years.
In common with major studios, traditional TV channels have faced issues as the public has chosen streaming services as an alternative.
YouTube winning broadcasting rights to the Oscars clearly signals that dependence on digital platforms will continue to grow.
