ABC said it expanded its agreement with the Academy of Motion Picture Arts and Sciences to televise the annual Oscars through 2028, when the event will mark its 100th anniversary.
The current deal was set to expire in 2020. Terms were not disclosed.
At a time when more viewing is being done on a delayed basis, big events like the Oscars draw live viewing.
This year's Oscars drew 34.4 million viewers but that marked an eight-year low. Hosted by Chris Rock, it was the third least-watched Oscars ever. It was still the No. 4 telecast so far this year, following the Super Bowl, the Super Bowl post-game show and Donald Trump's acceptance speech at the Republican National Convention.
“After hosting the Academy Awards more than 50 times, ABC has become the home for Hollywood’s most prestigious and glamorous night of television. With this new landmark agreement, ABC is proud to showcase the Oscars all the way to their centennial celebration in 2028,” said Ben Sherwood, cochairman, Disney Media Networks and president, Disney|ABC Television Group.
“Broadcast television brings together the biggest audiences with high-quality live events, and ABC has the brightest, boldest lineup in the business,” Sherwood said. “We look forward to teaming with the Academy to bring Oscar Sunday to even greater creative heights, as we spotlight motion picture magic and honor the achievements of the most talented members of the film industry," Sherwood said.
Dubbed the Super Bowl for women, the Academy Awards draws a big audience and advertisers build campaigns around the event. This year, Kantar Media estimated that ABC would get $1.9 million and $2 million per 30-second spot and generate more than $110 million in advertising revenues.
“We’re honored to continue our storied and successful partnership with ABC in broadcasting the most watched live entertainment event of the year,” said Academy president Cheryl Boone Isaacs. “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.”
The 89th Academy Awards will be held Oscar Sunday, Feb. 26, 2017, at the Dolby Theatre at Hollywood & Highland Center in Hollywood and will be televised live by the ABC Television Network. The Oscar presentation also will be televised live in more than 225 countries and territories worldwide.
"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,” said Channing Dungey, president, ABC Entertainment.