Google now owns the Oscars. The Academy of Motion Picture Arts and Sciences, responsible for the Oscars, has chosen not to renew its long-standing contract with ABC. In the bidding war that followed, broadcasting rights for the beleaguered awards show were awarded to YouTube for the years 2029 through 2033.
The ceremony was first held in 1928 for a Hollywood that was vastly different from today. Since the inception of the Oscars, movies have evolved beyond practical effects and movie-star personalities to incorporate advancements such as CGI, innovative filming equipment and techniques, and innovative acting techniques. Viewership of the Oscars has declined by more than half over the past decade, with just under 20 million tuning in to the last three ceremonies.
The Academy also wanted to open the rest of the festivities for viewing, such as red-carpet content, special honors and awards beyond the scope of the main show, nominations announcements, and industry interviews. Part of the deal with parent company Google is an investment in digitizing the Academy library, preserving it for future generations.
Only YouTubeTV Subscribers Will Be Allowed To Watch
However, this also takes the Oscars off television, making it yet another victim of the streaming silos. While the rest of the world can watch the Oscars on YouTube for free, Americans will need a YouTube TV subscription to watch the ceremony.
Although viewership of the Oscars has declined over the last decade, it still has a large audience and draws in a great deal of sponsors and endorsements. It is a cultural touchstone whose function is to connect movie audiences to the people who make the movies, and YouTube is counting on that relevance to sustain its investment.
However, it may be up to YouTube to keep the Oscars in the zeitgeist, no small feat if they intend to only show the festivities to subscribers. The Academy has been accused of being outdated in its approach to the show, something insiders claim may have dampened Disney’s enthusiasm for renewing the ABC contract. The contract with YouTube may be a sign that the Oscars are ready to modernize, but the streaming giant might also have to enforce change to protect their investment.
One thing is certain: cable has its hands full with streaming, as companies like YouTube and Netflix shore up their holdings in an attempt to absorb audiences away from traditional methods of viewing. With sports and now the Oscars moving to exclusively streaming services, there is a battle for our attention spans, and right now, it looks like streaming is winning.