The Oscars will start streaming on YouTube from 2029, moving away from its broadcast on ABC.
The Academy of Motion Picture Arts and Sciences said it signed a multi-year deal with YouTube that will give it exclusive global rights to the Oscars until 2033.
The Oscars have aired for half a century on ABC, but starting in 2029, they will be available live and free on YouTube.
The Academy had been auctioning off the rights to future telecasts in recent weeks.
This led to speculation that a new Big Tech buyer would swoop in before YouTube eventually outbid ABC and other suitors.
“This collaboration will leverage YouTube’s vast reach and infuse the Oscars and other Academy programming with innovative opportunities for engagement while honouring our legacy,” Academy CEO Bill Kramer and Academy President Lynette Howell Taylor said in a media release.
“Partnering with the Academy to bring this celebration of art and entertainment to viewers all over the world will inspire a new generation of creativity and film lovers while staying true to the Oscars’ storied legacy,” YouTube CEO Neal Mohan said.
The Academy will continue to partner with Disney’s ABC through the 100th Oscars in 2028.
Further details of the deal have not yet been made available.
This is another shakeup in Hollywood, following the Warner Bros. Discovery bidding wars between Paramount, Skydance and Netflix, which was ultimately won by the latter.
YouTube winning rights to the Academy Awards further suggests that reliance on streaming sites will continue.
YouTube is also imposing a greater presence in the media industry as it was predicted to overtake Disney as the world’s biggest media company.
In 2024, YouTube made US$54.2 billion, which was just US$5.5 billion behind Disney, according to MoffettNathanson analyst Michael Nathanson.
