By Miguel Mike Medina
Photo Credit: Kurt Krieger/Corbis via Getty; CFOTO/Future Publishing via Getty
A new era is coming in a few years. The Oscars are heading to YouTube beginning in 2029. It is one of the most surprising business stories of the week. A news no one saw coming.
ABC will have the rights to telecast the award show through 2028, marking the 100th ceremony. The Academy of Motion Picture Arts and Sciences signed a deal that will give YouTube the right, starting in 2029, with an expiration in 2033. We will see whether, by 2033, the contract is extended or the Oscars find a new platform. It will come down to ratings.
“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.
How come the Oscars will stream on YouTube? What about Netflix or NBC?
There could be many reasons the Academy chose YouTube. If we can point to one thing, it could be that YouTube has a younger audience. Perhaps the Academy aims for that. Who knows? According to Nielsen, YouTube consumers reached up to 12.9% of all television and streaming content in November.
YouTube streaming the event will include the following: red carpet coverage, behind-the-scenes content, and Governors Ball. It’s going to be live and free on YouTube for all the viewers around the world. There will be audio tracks in many different languages.
It’s going to be weird at first not to have the Oscars at ABC. It’s been the home for the Oscars since 1961. It started with the award show, which first aired in 1953 on NBC. Business is forever changing. Nothing is forever. We knew that, at some point, ABC would hand over the keys to another platform.
YouTube CEO Neal Mohan is excited for the new chapter and looking forward to inspiring the next generation.
“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.”
YouTube has come a long way since 2004. This is a significant game-changer for the industry.
Miguel Mike Medina is the publisher of The MMM Journal. He can be reached at medinamiguelmike@gmail.com and themmmjournal@gmail.com
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