Sky will stop broadcasting the Oscars after 20 years as ratings tumble for the awards show
Sky has pulled out of broadcasting the Oscars ceremony after 20 years, it is understood.
According to a report, the network has backed out of retaining the rights to the event as ratings tumble.
A report from industry magazine Deadline suggests rights holder Disney is close to striking a deal with a new British broadcaster.
UK viewing figures for the Oscars are down, with 35,000 people reportedly watching the event live on Sky Cinema this year, compared to nearly 60,000 in 2022.
Broadcasters are facing a difficult economic climate and many are looking to cut costs.
Sky stopped broadcasting the Oscars after taking over the rights to broadcast the ceremony from the BBC in 2004.
UK audiences watching the Oscars on Sky Cinema fell from nearly 60,000 in 2022 to 35,000 earlier this year
Sky took over the rights from the BBC in 2004. Coverage usually ran between 11 p.m. and 5 a.m.
Coverage of the ceremony can be seen in the US on ABC and was hosted this year by talk show star and comedian Jimmy Kimmel.
The event made headlines for all the wrong reasons in 2022 after Will Smith famously took the stage and punched Chris Rock.
At this year’s ceremony, Everything, Everywhere All At Once won Best Picture.
More than 57 million Americans watched Titanic win 11 Oscars at the 70th Academy Awards in 1998, the highest viewership in history.
But in 2021, just over 10 million viewers watched and the lack of interest was reflected both in Britain and around the world.