The Oscars will move from ABC to YouTube beginning in 2029, with the ceremony streaming on the platform through 2033.

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"ABC has been the proud home to The Oscars for more than half a century," officials said in a statement, per The Hollywood Reporter. "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."

YouTube will also stream the Academy's pre-show, nominations coverage, Governors Awards ceremony and Nominees luncheon, the outlet states.

"The Oscars are one of our essential cultural institutions, honoring excellence in storytelling and artistry. 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 Oscar's storied legacy," YouTube CEO Neal Mohan said.

The Academy also expressed excitement about the deal, with President Lynette Howell Taylor and Bill Kramer saying that they saw the new deal as a way to "expand access" to the Academy's work.

"This collaboration will leverage YouTube's vast reach and infuse the Oscars and other Academy programming with innovative opportunities for engagement while honoring our legacy," they said.