🔗 Share this article The Academy Awards Are Exiting Broadcast TV and Stream on the Video Platform Starting in the Year 2029. The Academy Awards are set to start airing only on the global video platform in 2029, marking the most recent substantial shift in the film industry. The Academy of Motion Picture Arts and Sciences made the announcement on Wednesday, confirming that it entered into a extended contract awarding YouTube the unique international license to the Oscars until 2033. The Oscars, set for March 15th, has been broadcast for 50 years on the traditional network. Beginning in 2029, the ceremony will be available live and for free on YouTube. It's a further significant upheaval in Hollywood, which is grappling with corporate acquisitions and consolidations, in addition to drastic reductions in filming. "The Academy is an worldwide body, and this collaboration will permit us to increase availability to the activities of the Academy to the most extensive international crowd attainable - which will be positive for our Academy members and the movie industry," stated organization heads in a release. For many years, audience numbers of the awards show have fallen, even if there was a slight uptick in recent years, with a considerable amount of youthful audiences watching from mobile devices and computers. In a separate statement, YouTube's CEO described the Oscars "among our essential pillars of culture" and added that partnering with the Academy would "spark a new generation of innovation and cinema enthusiasts while remaining faithful to the Oscars' storied history". ABC, which has streamed the awards since the mid-1970s, said that it was looking forward "to the next three telecasts" it will continue to air. The move follows large entertainment companies face complex corporate battles. Both options were viewed as unfavourable for an business that has witnessed drastic cuts over the recent period. Similar to big production houses, cable networks have struggled as the public has chosen streaming services as an alternative. YouTube winning rights to the Academy Awards further suggests that dependence on streaming sites will carry on to grow.