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The Academy of Motion Picture Arts and Sciences has announced a major change for the Oscars. Starting in 2029, the awards ceremony will stream on YouTube.

Walz announced his decision Monday, Jan. 5, saying he reached the decision over the holidays.

The Oscars telecast will move from broadcasting to streaming in 2029, switching from ABC to YouTube — a watershed moment for the entertainment business.

The deal, which YouTube says will make the Oscars more accessible to the Academy’s growing global audience, ends the Academy’s partnership with ABC, which has aired the ceremony since 1976.

The Academy Awards announced that the Oscars will move from ABC to YouTube beginning in 2029 in a landmark deal.