End of an Era: The Oscars Are Leaving Hollywood for Good

The Oscars will soon pack up and leave Hollywood behind.

The Academy of Motion Picture Arts and Sciences announced the news on Thursday, March 26, saying the awards are moving to downtown Los Angeles in 2029.

The Oscars have called the Dolby Theatre, formerly the Kodak Theatre, home since 2001. The venue was designed specifically for the Academy Awards to overcome logistical issues producers faced at other venues in L.A.

But the Academy has now inked a 10-year deal with AEG to hold the awards in the Peacock Theater at the L.A. Live entertainment complex from 2029 through 2039.

“We are thrilled to partner with a global powerhouse like AEG. Their track record for building and operating technologically sophisticated live performance venues is unrivaled,” Academy CEO Bill Kramer and Academy President Lynette Howell Taylor said in a joint statement

The 2029 ceremony will be the first Oscars to stream exclusively on YouTube after the Academy’s contract with ABC ends.

The Peacock Theater, which is about 30 minutes from the Dolby, already hosts the Emmys and the BET Awards.

To close the deal with the Academy, L.A. Live owner and operator AEG agreed to upgrade the downtown theater’s stage, sound, lighting systems, lobbies, backstage facilities, and other areas to accommodate the Oscars.

“L.A. 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. “We’re proud to partner with the Academy to reimagine what the Oscars can look and feel like in the years ahead.”

With the Dolby located along the Hollywood Walk of Fame, the awards bring tourists and crowds to the shops and restaurants in the area. But the venue is surrounded by residential neighborhoods and each year the ceremony causes headaches for local residents.

This year alone, local news stations reported “about 100” cars parked on streets in the neighborhood were towed in the hours before the 2026 Oscars, with residents “facing at least a $409 retrieval fee.”

Residents blamed confusing temporary street signs, heightened awards security amid the war with Iran, and overzealous tow truck divers.

“The signs even confused the officers issuing tickets,” a woman named Maryann King told Fox 11 Los Angeles.

“When I questioned, ‘Does this sign make sense to you?’ they were like, ‘No. We don’t know why we’re giving tickets,’” King said. “I’ve never seen anything like that in my life. It was a frenzy.”