Washington DC [US], March 28 (ANI): The Academy Awards are set for a major transition, as the ceremony will move out of Hollywood to a downtown Los Angeles venue and begin streaming on YouTube from 2029, according to People.

The Academy of Motion Picture Arts and Sciences, in partnership with entertainment company AEG, announced that the Oscars will be hosted at the Peacock Theater, part of the L.A. Live complex, from 2029 through 2039. The venue is located next to Crypto.com Arena and the Los Angeles Convention Center.

The move marks the end of an era for the Dolby Theatre on Hollywood Boulevard, which has hosted the Oscars since 2001. The ceremony will continue to take place at the Dolby Theatre and air on ABC through the 100th Academy Awards in 2028, according to People.

In a joint statement, Academy CEO Bill Kramer and Academy president Lynette Howell Taylor expressed enthusiasm about the collaboration with AEG, highlighting the company's expertise in operating advanced live entertainment venues. They added that the new location would provide an ideal backdrop for celebrating cinema on a global scale.

'We are thrilled to partner with a global powerhouse like AEG. Their track record for building and operating technologically sophisticated live performance venues is unrivaled,' Academy CEO Bill Kramer and Academy president Lynette Howell Taylor said in a March 26 statement. 'For the 101st Oscars and beyond, the Academy looks forward to closely collaborating with AEG to make L.A. LIVE the perfect backdrop for our global celebration of cinema, both for our live in-theater audience and for film fans around the world,' according to People.

The Academy previously announced its new partnership with YouTube, which runs between 2029 and 2033, in December 2025. All coverage of the Oscars, from red carpet and behind-the-scenes content, as well as the annual Governors Ball, will all be available to stream on YouTube during that time period, as per the outlet.

The Oscars have been held at multiple venues over the years. The first ceremonies took place at the Hollywood Roosevelt Hotel for its initial 16 years. Other past locations include Grauman's Chinese Theatre, the Shrine Auditorium, the RKO Pantages Theatre, the NBC International Theater in New York City and the Dorothy Chandler Pavilion at the Music Center of Los Angeles County.

The most recent ceremonies were hosted by Conan O'Brien. At this year's awards held on March 15, 'One Battle After Another' emerged as the biggest winner with six awards, including Best Picture, while 'Sinners' secured four wins. The 98th Academy Awards also introduced the first-ever Best Casting category, awarded to casting director Cassandra Kulukundis for her work on 'One Battle After Another,' according to People. (ANI)