Oscars to stream on YouTube starting in 2029, leaving ABC

The show was hosted by ABC for more than a half-century and reveals the latest major shakeup in Hollywood.

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The Academy of Motion Picture Arts and Sciences made the announcement on Wednesday, saying that it signed a multi-year deal that will give YouTube the exclusive global rights to the Oscars until 2033.

The Oscars, which is planned for 15 March, has aired for a half a century on ABC. Starting in 2029, the show will be available live and for free on YouTube.

It's another big shakeup in Hollywood, which is dealing with studio sales and mergers, along with steep production cuts.

"The Academy is an international organization, and this partnership will allow us to expand access to the work of the Academy to the largest worldwide audience possible - which will be beneficial for our Academy members and the film community," Academy CEO Bill Kramer and Academy President Lynette Howell Taylor said in a statement.