Netflix Out of Oscars Broadcasting Race Amid Warner Bros. Acquisition

It’s officially eight weeks until Oscar nominations are announced, and the Academy is looking for a new broadcaster, but Netflix has hit a wall amid the changes involving the Warner Bros. acquisition.

A source told Variety, “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.” This news comes after Netflix announced its plans to acquire Warner Bros. in a multi-billion-dollar deal that’s caused a big divide between many Hollywood including the Writers Guild of America.

The Academy of Motion Picture Arts and Sciences has been trying to find a new licensing agreement for its broadcast for 5–10 years. ABC has been the partner of the Academy and still has the rights to air the Oscars until 2028, which will mark the 100th Oscars ceremony. Netflix and YouTube were in talks to take over, but Netflix is now out of negotiations.

The Academy Awards

NBCUniversal has jumped up in potential candidates following a well-regarded show with the 2024 Summer Olympics and the Macy’s Thanksgiving Parade, which had a record-breaking 43.3 million viewers. YouTube also remains an active contender, and Variety’s source stated, “it earns far more viewership on clips and speeches from past Academy Awards broadcasts than the broadcast partners earn for the live event itself.“

Originally, NBC broadcast the show on TV and radio in 1953, then moved to ABC for 10 years in 1961, followed by NBC from 1971 until 1975. At the end of ABC’s broadcasting deal in 2028, the company will have aired 50 ceremonies. According to three separate sources, ABC spends about $120 million per year hosting the Oscars.

Netflix is currently the hot topic of conversation following its $83 billion acquisition of Warner Bros. and its properties. In an update today (December 6), Netflix has assured consumers that “nothing is changing today“ and HBO Max “will continue to operate separately.” The merger between Netflix and Warner Bros. is expected to take anywhere between 12 and 18 months.

Subscription prices for Netflix will likely change for the streaming service as it takes on Warner Bros.’ extensive catalog of TV shows and movies. It wouldn’t be the first time the streaming service has hiked prices, with the most recent being earlier this year.