ABC Has Lost the Oscars To YouTube
Earlier this year, we brought you the news that it looked like ABC and the Oscars could be heading for a breakup.
After 50 years of ABC broadcasting Hollywood’s biggest night, Disney and the Academy of Motion Picture Arts and Sciences were reportedly far apart on a new broadcasting deal.
Photo: Hulu
The current deal, which runs through 2028, reportedly sees Disney pay $100 million a year for the Academy Awards. While Disney wanted to continue business as usual, the Academy reportedly wanted more money.
Photo: Disney
Today, the second shoe finally dropped.
The Oscars Jump To YouTube
According to numerous reports, YouTube has won the rights to host the Academy Awards beginning in 2029.
YouTube
Google reportedly outbid several competitors, including ABC, for the new TV deal.
The first YouTube presentation of the Oscars will be the 101st Academy Awards in 2029. The new deal runs through 2033.
Photo: Oscars
“The Oscars are one of our essential cultural institutions, honoring excellence in storytelling and artistry,” said Neal Mohan, CEO, YouTube. “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.”
What This Means For ABC
While losing the Oscars will be a blow to ABC, Disney reportedly wasn’t willing to match the monster price tag YouTube paid.
Over the last several years, ABC has made a concerted effort to acquire more premier television events, including a recent $70 million-a-year deal for the Grammys.
As award shows continue to lose viewers, however, the juice simply wasn’t worth the squeeze.
“ABC has been the proud home to The Oscars for more than half a century. We look forward to the next three telecasts, including the show’s centennial celebration in 2028, and wish the Academy of Motion Picture Arts and Sciences continued success,” an ABC Entertainment spokeswoman said.
Photo: MickeyBlog
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