YouTube is interested in hosting the Oscars, according to a Bloomberg report on Sunday, citing several people familiar with the matter.
It would mean wrestling the rights from Walt Disney’s ABC, which has long hosted the annual awards show and whose contract runs until 2028.
ABC already shows the Oscars on YouTube, but by owning the rights itself, YouTube would have primary control of the broadcast, giving it greater influence over how the event is presented on its platform.
Like streaming rivals Netflix and Amazon, Google-owned YouTube is ramping up its coverage of live events in a bid to boost audience numbers.
Bloomberg said that if YouTube managed to nab the rights to the Academy Awards, it would be “a huge statement from YouTube and a shock to the industry.”
Here are five reasons why it may actually be a good idea … and a couple why it might not.
1. Massive reach: YouTube is the world’s most-visited video platform, with around 2.7 billion monthly active users. Giving the broadcast rights to YouTube could give a real boost to the Oscars ceremony, which has struggled to maintain relevance and grow audience numbers in recent years.
2. A younger, more diverse audience: YouTube is popular with younger viewers who are turning away from regular TV in increasing numbers. Having YouTube take control of the Oscars broadcast would likely bring in more of these younger viewers, as well as broaden the ceremony’s multicultural audience, generating a wave of renewed interest in the annual entertainment event.
3. A more interactive viewing experience: The show could become a whole lot more engaging via things like live chat, polls, games like forecasting, and live behind-the-scenes material that viewers could effortlessly dip in and out of.
4. Influencer involvement: It could make the Oscars more fun with greater interaction with YouTube celebrities and influencers, bridging Hollywood and digital culture in ways that could make the ceremony feel fresh again.
5. Convenient on-demand viewing: YouTube can make it easy for viewers to enjoy the highlights, movie clips, or the entire ceremony on demand after the event is over, which would align nicely with changing viewing habits.
Possible downsides:
1. Loss of its traditional TV broadcast audience: If YouTube wins the rights to show the event on its streaming platform, there’s a risk that it could result in some people tuning out instead of tuning in, especially older folks who enjoy the Oscars but may be slow to hop aboard online streaming services like YouTube.
2. Possible technical issues: Streaming platforms are more prone to technical issues than traditional broadcasting operations. Netflix, for example, experienced a major livestreaming failure during the Mike Tyson vs. Jake Paul boxing match in November last year. More than 60 million people tuned in, but many of them were met with poor image quality and buffering. YouTube would have to be sure that it can handle the potentially massive demand.
