The Academy Awards to Depart Broadcast TV and Stream on the Video Platform Starting in the Year 2029.
The Oscars ceremony are set to start airing only on the global video platform in 2029, representing the most recent significant shift in Hollywood.
The Academy of Motion Picture Arts and Sciences made the announcement on Wednesday, confirming that it signed a multi-year deal granting the streaming service the sole worldwide broadcasting rights to the Oscars through 2033.
The Oscars, scheduled for 15 March, has been televised for five decades on ABC. Starting in 2029, the show will be viewable in real-time without charge on the digital platform.
This is a further major restructuring in Hollywood, which is navigating studio sales and mergers, along with drastic slashes to movie budgets.
"Our Academy represents an global institution, and this collaboration will enable us to increase availability to the activities of the Academy to the most extensive international crowd attainable - which will be positive for our membership and the movie industry," stated organization heads in a release.
Throughout a long period, ratings of the awards show have fallen, although there was a small rise in recent years, with a notable portion of youthful audiences streaming from smartphones and computers.
In a corresponding announcement, YouTube's CEO called the Oscars "among our essential cultural institutions" and said that partnering with the Academy would "motivate a fresh wave of artistic expression and cinema enthusiasts 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 continue to air.
This decision follows film industry giants face challenging merger discussions. Such proposals were seen as unfavourable for an sector that has experienced significant downsizing over the recent period.
Similar to big production houses, traditional TV channels have struggled as the audience has increasingly opted for streaming services instead.
YouTube winning broadcasting rights to the Oscars strongly indicates that dependence on digital platforms will carry on increasing.
