The Academy of Motion Picture Arts and Sciences struck an exclusive multiyear deal with the Google-owned video streaming platform that starts in 2029.

An Oscar statue on the red carpet at the 96th Annual Academy Awards, in Hollywood, Calif., in 2024.Jason Armond / Los Angeles Times via Getty Images file

The Academy Awards are moving to YouTube starting in 2029, marking a new era for Hollywood`s leading awards show and a mainstay of network television for decades.

The deal between the Academy of Motion Picture Arts and Sciences and YouTube announced Wednesday will start with the 101st Oscars ceremony in 2029 and run through 2033. The telecast has aired live on ABC since the 1970s.

"We are thrilled to enter into a multifaceted global partnership with YouTube to be the future home of the Oscars and our year-round Academy programming," academy CEO Bill Kramer and academy President Lynette Howell Taylor said in a joint statement.

"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," they said.

Kramer and Taylor said the partnership would "leverage YouTube`s vast reach and infuse the Oscars and other Academy programming with innovative opportunities for engagement while honoring our legacy."

The deal symbolizes YouTube`s growing dominance in the television and video ecosystem - and Hollywood`s recognition of digital media`s power. The platform, which is owned by the technology behemoth YouTube, represented the largest share of U.S. streaming television viewing last month, according to Nielsen, a leading measurement firm.

Oscars ratings have generally declined since peaking in 1998, the year "Titanic" conquered the ceremony, winning 11 trophies and helping draw in 55 million viewers.

The most recent telecast brought in nearly 20 million viewers - a slight improvement over Covid-era installments, but still a fraction of the audience that tuned in for the ceremony at the height of its commercial and cultural power.

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

The ceremony - including red carpet coverage and behind-the-scenes programming - will be available live and for free to viewers around the world, as well as to YouTube TV subscribers in the United States, according to the academy.