🔗 Share this article The Academy Awards to Depart Broadcast TV and Broadcast Live on the Video Platform Starting in the Year 2029. The Oscars ceremony will commence streaming exclusively on the global video platform in the year 2029, signaling the most recent significant change in the film industry. The Academy of Motion Picture Arts and Sciences made the announcement on this week, indicating that it finalized a extended contract granting YouTube the sole worldwide broadcasting rights to the Oscars until 2033. The awards show, scheduled for March 15th, has been televised for 50 years on the traditional network. Commencing in 2029, the ceremony will be available as a free live stream on the digital platform. This is one more significant upheaval in Hollywood, which is dealing with corporate acquisitions and consolidations, in addition to severe slashes to movie budgets. "Our Academy represents an worldwide body, and this alliance will enable us to broaden reach to the activities of the Academy to the most extensive international crowd attainable - which will be positive for our film artists and the cinematic world," said Academy leadership in a announcement. Throughout a long period, audience numbers of the awards show have fallen, even if there was a minor increase in recent years, with a notable portion of Gen Z and millennial watchers watching from smartphones and laptops. In a separate statement, the head of YouTube described the Oscars "among our vital pillars of culture" and added that working with the Academy would "spark a new generation of innovation and cinema enthusiasts while adhering to the Oscars' celebrated legacy". The broadcast network, which has streamed the ceremony since 1976, stated that it was looking forward "to the upcoming broadcasts" it will still host. This decision comes as film industry giants face complex corporate battles. Such proposals were considered concerning for an sector that has witnessed severe reductions over the past several years. Similar to big production houses, traditional TV channels have faced issues as the audience has increasingly opted for streaming services instead. YouTube winning rights to the Oscars clearly signals that the dominance of streaming sites will continue increasing.