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The Academy Awards will commence airing only on the global video platform in the year 2029, marking the latest major transformation in the film industry.

The organization behind the Oscars revealed the news on this week, stating that it signed a multi-year deal giving the streaming service the unique international license to the Oscars up to 2033.

The Oscars, set for 15 March, has aired for five decades on the traditional network. Beginning in 2029, the ceremony will be available live and for free on the digital platform.

It's another significant upheaval in Hollywood, which is dealing with corporate acquisitions and consolidations, along with steep reductions in filming.

"The Academy is an worldwide body, and this partnership will permit us to expand access to the mission of the Academy to the biggest global viewership possible - which will be beneficial for our film artists and the movie industry," said Academy leadership in a release.

For many years, viewership of the ceremony have dropped, even if there was a small rise in 2025, with a notable portion of Gen Z and millennial watchers streaming from cell phones and laptops.

In a related comment, the head of YouTube referred to the Oscars "one of our essential pillars of culture" and noted that partnering with the Academy would "motivate a new generation of creativity and film lovers while adhering to the Oscars' storied heritage".

The broadcast network, which has televised the awards since 1976, said that it was excited "to the next three telecasts" it will retain rights for.

The move comes as film industry giants confront challenging merger discussions. These potential deals were viewed as concerning for an business that has experienced significant downsizing over the past several years.

Like big production houses, cable networks have faced issues as the public has increasingly opted for on-demand video instead.

The platform securing rights to the Oscars clearly signals that reliance on streaming sites will continue to grow.