Goodbye TV, hello streaming: The Oscars will move to YouTube in 2029

It’s a seismic shift for one of television’s marquee events... The Academy of Motion Picture Arts and Sciences announced has announced that the Oscars will leave ABC and begin streaming on YouTube beginning in 2029, with YouTube gaining the exclusive global rights until 2033.

ABC will continue to broadcast the annual ceremony through 2028 - the year that will mark the 100th Oscars.

The annual film awards will be available to the Google-owned video-sharing platform's two billion users for free around the world – in a move that effectively does away with broadcast television.

Financial terms were not disclosed.

“We are thrilled to enter into a multifaceted global partnership with YouTube to be the future home of the Oscars and our year-round Academy programming,” said academy chief executive Bill Kramer and academy president Lynette Howell Taylor.

“The Academy is an international organization, and this partnership will allow us to expand access to the work of the Academy to the largest worldwide audience possible - which will be beneficial for our Academy members and the film community.”

“The Oscars are one of our essential cultural institutions, honoring excellence in storytelling and artistry,” said Neal Mohan, chief executive of YouTube. “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.”

The Walt Disney Co.-owned ABC has been the broadcast home to the Oscars for almost its entire history. NBC first televised the Oscars in 1953, but ABC picked up the rights in 1961. Aside from a period between 1971 and 1975, when NBC again aired the show, the Oscars have been on ABC.

“ABC has been the proud home to The Oscars for more than half a century," the network said in a statement. "We look forward to the next three telecasts, including the show’s centennial celebration in 2028, and wish the Academy of Motion Picture Arts and Sciences continued success.”

Last year's Academy Awards were watched by 19.7 million viewers on ABC, a five-year high but far below the show's biggest audience of 57 million in 1998.