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The Oscars ceremony are set to start airing only on the global video platform in 2029, signaling the newest major change in the film industry.

The organization behind the Oscars made the announcement on this week, indicating that it finalized a multi-year deal awarding YouTube the sole worldwide broadcasting rights to the Oscars until 2033.

The Oscars, scheduled for 15 March, has aired for 50 years on the traditional network. Beginning in 2029, the show will be accessible in real-time without charge on the digital platform.

This is one more substantial upheaval in the entertainment world, which is navigating company buyouts and fusions, in addition to severe reductions in filming.

"The Academy is an worldwide body, and this alliance will allow us to increase availability to the work of the Academy to the most extensive international crowd imaginable - which will be beneficial for our film artists and the cinematic world," stated Academy leadership in a announcement.

Throughout a long period, viewership of the awards show have dropped, though there was a small rise in recent years, with a considerable amount of youthful audiences watching from cell phones and computers.

In a related comment, the video platform's chief executive called the Oscars "a key essential cultural touchstones" and noted that working with the Academy would "spark a fresh wave of innovation and cinema enthusiasts while staying true to the Oscars' storied legacy".

ABC, which has streamed the awards since 1976, said that it was excited "to the upcoming broadcasts" it will still host.

This shift follows major studios deal with challenging merger discussions. These potential deals were seen as concerning for an business that has seen severe reductions over the last few years.

Like big production houses, traditional TV channels have struggled as the public has chosen streaming services instead.

YouTube winning rights to the Academy Awards further suggests that dependence on streaming sites will persist increasing.