The Academy Awards will leave their longtime home at the Dolby Theatre in the heart of Hollywood and move to a more central Los Angeles location beginning in 2029. The ceremony will be held at the Peacock Theater, which offers greater seating capacity than the current venue. This relocation, spanning eight miles (12 km), will continue through 2039 and also marks a homecoming of sorts for the Oscars, as earlier ceremonies were held at central locations like the Dorothy Chandler Pavilion and Shrine Auditorium.

The Academy of Motion Picture Arts and Sciences stated that the move is part of a multi-year partnership with AEG, the owner of the L.A. LIVE complex that also hosts the Emmy and Grammy Awards. Todd Goldstein, AEG's chief revenue officer, said, "L.A. LIVE was built to host the moments that define culture, and there is no greater global stage than the Oscars." Academy CEO Bill Kramer and President Lynette Howell Taylor expressed enthusiasm for the partnership, praising AEG's track record in building and operating technologically sophisticated live performance venues.

This relocation coincides with the telecast's shift from broadcast television to streaming on YouTube. Starting in 2029, the Oscars will be streamed live and for free on YouTube, aiming to reach a broader audience. However, in 2028, the centennial ceremony will still be held at the Dolby Theatre and televised live on ABC.

While the move to the Peacock Theater increases audience capacity, it also distances the ceremony from the iconic Hollywood sign. This change reflects broader trends in the entertainment industry, where digital platforms are becoming increasingly vital for global engagement, though it may dilute the traditional Hollywood ambiance associated with the awards.

Source: www.bbc.com