Academy Awards set to relocate from Hollywood by 2029

On March 15, a notable gathering took place in Hollywood, California, where Sara Murphy, Carmen Ruiz de Huidobro, and Paul Thomas Anderson, the winner of Best Picture for "One Battle After Another", were seen in the press room during the 98th Oscars at Dolby Theatre.

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The ceremony's organizers have announced that the Oscars will be relocating from Hollywood after celebrating their centenary, with a long-term deal secured to host the event in central Los Angeles, starting from the 2029 edition.

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The Academy of Motion Picture Arts and Sciences has confirmed that the ceremony will be leaving the Dolby Theatre on the Hollywood Walk of Fame after 2028, marking the end of an era for the iconic venue.

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The 2029 Oscars will instead take place at The Peacock Theater, which is part of the expansive LA LIVE complex, situated next to the Crypto.com Arena, home of the Los Angeles Lakers.

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A statement from Academy CEO Bill Kramer and President Lynette Howell Taylor expressed their enthusiasm for the new partnership, stating that "For the 101st Oscars and beyond, the Academy looks forward to closely collaborating with (owners) AEG to make LA LIVE the perfect backdrop for our global celebration of cinema, both for our live in-theater audience and for film fans around the world".

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A 10-year deal has been signed with AEG, coinciding with the ceremony's departure from network television in the United States, as it will now be broadcast worldwide by YouTube.

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This move also brings an end to the ceremony's decades-long run at the Dolby Theatre, which is located near the Roosevelt Hotel, where the very first Oscars were presented in 1929.

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Although Hollywood is often associated with the Oscars, the ceremony has not always been held there, with previous venues including locations in the Downtown area and the beachside city of Santa Monica.

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This year's awards, held on March 15, saw Paul Thomas Anderson's "One Battle After Another" take the top honor as best picture, a film that tells a complex story of leftist revolutionaries, white supremacists, and immigrant detention centers.