In a move that’s sending shock waves through Tinseltown, the Academy of Motion Picture Arts and Sciences announced Thursday that the Oscars are packing their bags and moving the glitz and glam from the historic Dolby Theater to Downtown Los Angeles starting in 2029.
The 101st Academy Awards will mark the end of an era, ditching the legendary Hollywood & Highland intersection for the Peacock Theater at the L.A. Live complex.
But the venue change isn’t the only thing getting a facelift. In a desperate bid to find an audience that actually watches movies, the Academy is also moving away from its longtime broadcast partner ABC to stream the world’s biggest night in film exclusively on YouTube. This year, viewership dropped to a four-year low, with 17.86 million people tuning in on ABC and Hulu, according to Deadline.
The move is part of a new deal with entertainment giant AEG, and the partnership will keep the show there for at least a decade.
The Dolby Theater has hosted the Oscars since 2002, becoming synonymous with Hollywood’s biggest night–from tearful acceptance speeches to headline-making slaps. But after nearly 30 years, the Academy is ready to roll out the red carpet somewhere new.
“L.A. LIVE was built to host the moments that define culture, and there is no greater global stage than the Oscars,” Todd Goldstein, Chief Revenue Officer of AEG, said in a statement.
The 100th anniversary show in 2028 will serve as the Dolby’s swan song and ABC’s final curtain call. After that, the red carpet gets rolled out in Downtown LA.
AEG, which owns and operates L.A. Live’s 23-acre/4-million-square-foot sports and entertainment district, is planning a full-scale glow-up of the Peacock Theater. Major upgrades will be made to the stage, sound, lighting and backstage areas to accommodate the massive production.
The surrounding L.A. Live campus will also get in on the action, with its plaza expected to host red carpet arrivals and fan experiences.
“We are thrilled to partner with a global powerhouse like AEG,” said Academy CEO Bill Kramer and Academy President Lynette Howell Taylor in a statement. “Their track record for building and operating technologically sophisticated live performance venues is unrivaled.”