đź”— Share this article The Academy Awards Are Exiting ABC and Broadcast Live on the Video Platform Beginning in the Year 2029. The Oscars ceremony are set to start airing only on the global video platform in the year 2029, representing the newest significant shift in Hollywood. The Academy of Motion Picture Arts and Sciences revealed the news on this week, stating that it entered into a multi-year deal giving YouTube the unique international license to the Oscars until 2033. The awards show, scheduled for March 15th, has aired for five decades on the traditional network. Starting in 2029, the show will be available in real-time without charge on the digital platform. It's another major upheaval in Hollywood, which is grappling with studio sales and mergers, coupled with steep slashes to movie budgets. "Our Academy represents an global institution, and this collaboration will allow us to broaden reach to the mission of the Academy to the most extensive international crowd possible - which will be positive for our membership and the cinematic world," stated the Academy's executives in a statement. Throughout a long period, viewership of the awards show have declined, though there was a small rise in recent years, with a significant number of youthful audiences watching from smartphones and laptops. In a separate statement, the head of YouTube referred to the Oscars "a key essential pillars of culture" and added that working with the Academy would "motivate a fresh wave of artistic expression and movie fans while staying true to the Oscars' celebrated heritage". The broadcast network, which has aired the ceremony since 1976, said that it was looking forward "to the next three telecasts" it will still host. The move coincides with major studios face challenging merger discussions. These potential deals were seen as problematic for an business that has witnessed drastic cuts over the last few years. Like big production houses, cable networks have struggled as the public has shifted towards streaming services as an alternative. The platform securing the license to the Academy Awards strongly indicates that dependence on digital platforms will continue increasing.