Oscars to leave Hollywood for downtown Los Angeles in 2029

The Oscars are moving to a new venue, ending a more than two-decade run in Hollywood during the same year the Academy moves its annual awards broadcast to YouTube.The Academy Awards will move to the Peacock Theater in downtown Los Angeles starting in 2029. The venue, located within the 4m sq ft LA Live sports and entertainment complex will serve as the Oscars’ new home from the 101st ceremony through 2039.LA Live, a sector made up of several venues and luxury hotels like the Ritz-Carlton and JW Marriott, will host the red carpet and surrounding festivities.The Dolby Theatre, the Oscars’ home since 2002, will continue to host the ceremony and its ABC broadcast through the 100th Academy Awards in 2028. The Dolby is located in the heart of Hollywood, flanked by symbols of cinema such as the TCL Chinese Theatre and the Hollywood Walk of Fame.The decision is part of a new partnership between the entertainment giant AEG and the Academy of Motion Picture Arts and Sciences.“We are thrilled to partner with a global powerhouse like AEG,” said the Academy CEO, Bill Kramer, and Academy president, Lynette Howell Taylor, in a statement. “Their track record for building and operating technologically sophisticated live performance venues is unrivaled.”Since opening in 2007, LA Live’s Peacock Theater has become a premier destination for major events. It has hosted music icons such as Aretha Franklin, the Eagles and Juan Gabriel, as well as high-profile ceremonies like the Emmys, the BET awards, the American Music awards and MTV Video Music awards.“LA Live was built to host the moments that define culture, and there is no greater global stage than the Oscars,” said Todd Goldstein, chief revenue officer for AEG, in a statement. “We’re proud to partner with the Academy to reimagine what the Oscars can look and feel like in the years ahead.”