In a somewhat surprising move, the Academy of Motion Picture Arts and Sciences announced today the organization extended their current agreement with ABC to broadcast the Academy Awards until 2028.
In a press release Academy President Cheryl Boone Isaacs remarked, “We’re honored to continue our storied and successful partnership with ABC in broadcasting the most watched live entertainment event of the year. In 2028, we’ll mark the Oscars 100th anniversary, and ABC is the perfect partner to help us celebrate the magic of movies with our fans. On behalf of the Academy, I thank Jim Gianopulos, our Academy Treasurer and chair of the Board’s Finance Committee, and Disney/ABC’s Ben Sherwood, for leading these efforts.”
The new deal adds an additional eight years on to the current agreement that was set to expire in 2020.
Channing Dungey, President of ABC Entertainment added, “We are elated the Oscars will continue to call ABC home. The ceremony is an important part of network programming, and we’re looking forward to continuing our partnership with the Academy and delivering a multi-faceted, and multi-platform, ceremony celebrating the world’s biggest stars and honoring excellence in filmmaking.”
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While there is financial security in the deal for The Academy (important with the Academy Museum of Motion Pictures Museum still under construction) there are questions whether the changing landscape of television makes it a smart move for both parties. ABC has broadcast the Oscars ever year since 1976, but by the next decade it’s likely a majority of Americans will get their content from streaming services. The network currently has a streaming app but will the current Oscar audience follow them to a streaming destination? Would it have made more sense for the Academy to wait and see where the television landscape was heading when the original contract ended four years from now? You could certainly make that argument.
For ABC is this deal smart considering the declining ratings of live events such as the recently hyped VMAs and NBC’s Olympic coverage? Outside of the Super Bowl are live events really immune to the erosion other network programming has been experiencing? Keeping the deal alive isn’t a daring move. Securing it at a price determined four years early might be.
One thing’s for sure, you can pretty much bet this extension means that ABC’s Jimmy Kimmel will be your Oscars host sometime over the next 12 years and, unless he leaves CBS, James Cordon will not. Ponder that disturbing thought.
The 89th Academy Awards will be held on Sunday, February 26, 2017.
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