YouTube to Stream the Oscars Live Starting in 2029

The doomsday clock for broadcast television just ticked a little closer to midnight. After more than half a century on ABC, the Academy Awards ceremony will be a streaming exclusive beginning in 2029. YouTube grabbed the rights to the most important night in Hollywood.

Thankfully, the ceremony will stream for free.

Variety cites inside sources who claim YouTube paid over nine figures for the Oscars.

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

When TV ratings are tallied at the end of the year, live awards ceremonies are usually the only things other than sports or presidential political events to crack the 100 most-watched events.

In recent years, ratings have fallen off for the Oscars. Some have blamed weak hosts, but a bigger culprit is the lack of a beloved box office smash in the running for Best Picture. (Popular darlings like “Wicked” and “Barbie” occasionally get a pity nomination, but there’s no chance of them winning.)

The last time the Academy Awards drew more than 40 million viewers was 2014, when “12 Years a Slave” won Best Picture. The highest-rated Oscar-cast was 1998 when “Titanic” took nearly every statue and drew over 55 million viewers.