The Academy Awards to Depart ABC and Stream on the Video Platform Starting in the Year 2029.

The Oscars ceremony are set to start broadcasting solely on YouTube in the year 2029, signaling the most recent major change in the film industry.

The organization behind the Oscars revealed the news on Wednesday, indicating that it entered into a multi-year deal granting YouTube the unique international license to the Oscars up to 2033.

The awards show, scheduled for 15 March, has been televised for 50 years on the traditional network. Beginning in 2029, the ceremony will be available in real-time without charge on YouTube.

This is another significant shakeup in the entertainment world, which is grappling with studio sales and mergers, along with severe reductions in filming.

"The Academy is an international organization, and this collaboration will allow us to broaden reach to the mission of the Academy to the largest worldwide audience attainable - which will be positive for our Academy members and the cinematic world," said Academy leadership in a statement.

Throughout a long period, ratings of the ceremony have dropped, though there was a small rise in recent years, with a notable portion of Gen Z and millennial watchers watching from cell phones and desktops.

In a corresponding announcement, YouTube's CEO described the Oscars "among our essential cultural touchstones" and said that working with the Academy would "inspire a younger cohort of innovation and film lovers while adhering to the Oscars' storied history".

ABC, which has streamed the awards since the mid-1970s, commented that it was excited "to the upcoming broadcasts" it will continue to air.

This decision coincides with film industry giants confront challenging merger discussions. These potential deals were considered concerning for an sector that has experienced severe reductions over the recent period.

In common with big production houses, cable networks have faced issues as the public has shifted towards digital platforms instead.

YouTube winning rights to the Academy Awards clearly signals that reliance on streaming sites will carry on to grow.