The Academy of Motion Picture Arts and Sciences is shaking up Hollywood’s biggest night with a massive change in venue and broadcast. Starting with the 101st Oscars in 2029, the ceremony will move from its longtime home at the Dolby Theatre to the Peacock Theater at L.A. Live in downtown Los Angeles. This relocation is the centerpiece of a new 10-year partnership between the Academy and AEG, the sports and entertainment giant that owns the venue.

The move signals the end of an era for traditional television. In a landmark shift for the industry, the Oscars will officially leave its broadcast partner ABC after the 2028 ceremony. Beginning in 2029, YouTube will take over as the exclusive global home for the Oscars, holding streaming rights through 2033. This transition marks the first time the prestigious event will bypass a major broadcast network in favor of a digital platform for its primary distribution.

Academy CEO Bill Kramer and President Lynette Howell Taylor confirmed the details of the agreement, which aims to modernize the show’s reach for a global audience. The Peacock Theater, which holds over 7,000 seats, offers a larger capacity than the 3,400-seat Dolby Theatre. Fans can expect the current residency at the Dolby Theatre and the broadcast on ABC to continue through the milestone 100th anniversary ceremony in 2028 before the downtown L.A. move takes effect.