There are eight weeks left on the holy Hollywood awards calendar until Oscar nominations are announced, and it’s not just artists and craftspeople hunting for trophies. Momentum has been building in the auction for the TV rights to air the Academy Awards, Watch This Globe has learned through many recent conversations with sources close to the negotiations.
The Academy of Motion Picture Arts and Sciences has been seeking a new broadcast licensing agreement for the better part of 2025 – an all-important strategic partnership and revenue source that keeps the AMPAS coffers full, and the industry focused on glorifying movies for theaters as the highest art form in the town (anything else happen today that could threaten theatrical movies?). The Academy is seeking a deal term of 5-10 years for its next contract, numerous sources said.
ABC has long been the Academy’s broadcast partner and currently has rights to air the show through 2028, which will culminate in the milestone 100th Oscars ceremony. Over the summer, media reports said a slew of unconventional buyers had come into the mix as potential suitors, including Netflix and YouTube. The field has narrowed as concerns swirl over the real cost of mounting the Oscars in a sector wracked with financial anxiety.
For starters, Netflix is out, two sources familiar with the ongoing talks told Watch This Globe. While the streamer kicked the tires mid-summer, one of the sources was definitive that the new presumptive owner of Warner Bros. is no longer involved. CBS, owned by David Ellison’s Paramount, was never meaningfully engaged in conversations despite earlier reports.
NBCUniversal has gained ground as an interested party, according to three sources familiar with those Academy discussions. Following a triumphant show with 2024 Summer Olympics, the Comcast company is leaning further into its identity as a producer of live entertainment (look at this month’s ratings for the Macy’s Thanksgiving Day Parade, a record-shattering 34.3 million viewers across linear TV and Peacock). It also makes perfect sense that NBC would want the Oscars as a tentpole given Universal Pictures’ standing in the filmmaking community. NBCUniversal Entertainment and Studios Chair Donna Langley arguably has the best talent relationships in town, and the studio has more overall talent deals (over 20) than competitors like Warner Bros., Sony, Paramount, Walt Disney Pictures or any of the streamers. One insider with knowledge of the ongoing talks said a particularly attractive selling point for the Academy would be the forthcoming Los Angeles Olympic Games in 2028 – where NBCU could unleash a firehose of marketing synergies to hype its first perspective Oscars broadcast in 2029.
YouTube also remains an active bidder in the process, two sources familiar with those talks said. The Google subsidiary has exploded as a viewership juggernaut, representing the most-connected TV app in the U.S. and abroad for the past two years, per Nielsen. One person intimately familiar with YouTube’s wares pointed out that it earns far more viewership on clips and speeches from past Academy Awards broadcasts than the broadcast partners earn for the live event itself.
Then there’s ABC. The Disney network has aired most Oscar telecasts throughout history and has been AMPAS’ consistent network partner since 1976. NBC carried the telecast on TV and radio in 1953. The Oscars moved to ABC for a 10-year run in 1961. NBC was back in the mix from 1971 through 1975.
By 2028, ABC will have aired 50 consecutive ceremonies. Sources close to ABC said its Academy relationship goes beyond that of a traditional distributor, with much of the institutional memory surrounding the show hanging in the balance. Two sources were doubtful ABC will make it to the finish line with a new deal and painted the network as “less aggressive” than others involved. There’s also the glaring fact that ABC just negotiated a 10-plus year deal to air the Grammys across linear, Disney+ and Hulu, ending CBS’ long partnership with the recording academy. Another individual familiar with ABC disputed this, saying the network is heavily invested in its Academy partnership. They also extolled the value of Disney’s own corporate synergy – which sees the Oscars promoted at theme parks, on cruises, even in bits and story arcs on scripted programming for ABC and Hulu. The insider was optimistic about the Oscars remaining at ABC, and added that the Grammys in no way diminishes its commitment to Hollywood’s biggest night.
What the deal comes down to, as it always does, is not gold but green. Dollar figures for what the Academy is asking from each of its potential new partners were difficult for sources to express. In some instances, talks have yet to result in a hardline financial ask for the telecast rights. But there’s a resounding feeling from sources close to NBCUniversal, ABC and YouTube: “We’re not overpaying.”
Three separate sources said that ABC spends about $120 million annually for the Oscars, which includes spending on the rights, ceremony production and other institutional support. That figure is eye-popping for top dealmakers in show business, especially given the steady ratings decline all awards shows face in the streaming era. This year’s Conan O’Brien-hosted event pulled in a 5-year ratings high on ABC and Hulu at 19.69 million viewers, but that number is far off the nearly 40 million that watched the show a decade ago.
The financials get even more complicated for YouTube, as two insiders with knowledge of those talks said the Academy would expect a big premium to sell its rights to an exclusively digital buyer. Filmmakers and talent could revolt at the idea of celebrating cinema on a streaming platform owned by the biggest tech company in the world. Sources at the studios also pointed out a problem in the Oscars having proximity to other content that powers the video service.
“Are you going to have the Academy Awards roll into an autoplay of Ms. Rachel?” asked one source, referencing the extremely popular children’s educator who makes her bread on YouTube.
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