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The Oscars 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, representing the latest major shift in the film industry.
The Academy of Motion Picture Arts and Sciences made the announcement on this week, indicating that it signed a multi-year deal awarding the streaming service the unique international license to the Oscars through 2033.
The Oscars, set for March 15th, has been broadcast for a half a century on ABC. Starting in 2029, the show will be viewable in real-time without charge on the digital platform.
It's a further major shakeup in Hollywood, which is navigating studio sales and mergers, coupled with steep production cuts.
"Our Academy represents an worldwide body, and this alliance will allow us to increase availability to the mission of the Academy to the most extensive international crowd attainable - which will be positive for our film artists and the film community," remarked the Academy's executives in a release.
Throughout a long period, viewership of the awards show have declined, though there was a slight uptick in recent years, with a significant number of younger viewers tuning in from mobile devices and computers.
In a corresponding announcement, the head of YouTube described the Oscars "one of our vital cultural institutions" and noted that partnering with the Academy would "inspire a fresh wave of innovation and movie fans while staying true to the Oscars' illustrious history".
The broadcast network, which has televised the ceremony since 1976, stated that it was eagerly anticipating "to hosting the event three more times" it will continue to air.
The move coincides with large entertainment companies face intricate takeover attempts. Such proposals were viewed as unfavourable for an industry that has seen severe reductions over the last few years.
In common with major studios, cable networks have encountered challenges as the audience has shifted towards digital platforms instead.
YouTube winning rights to the Oscars further suggests that reliance on online services will carry on expanding.
Christina Miller
A tech journalist and AI researcher with a passion for exploring how emerging technologies impact society and business.
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