The Academy Awards will relocate from Hollywood to downtown Los Angeles beginning in 2029, ending a decades-long run at the Dolby Theatre.

The Academy of Motion Picture Arts and Sciences announced Thursday that it has reached a 10-year agreement with AEG to host the Oscars at the Peacock Theater, located in the L.A. Live entertainment complex. The move will coincide with the ceremony’s transition from ABC to YouTube.

The Dolby Theatre, which the Academy helped develop specifically for the Oscars, has hosted the ceremony since 2002, with the exception of a scaled-down 2021 event during the COVID-19 pandemic. It will continue to host the show through the 100th Academy Awards in 2028.

The new venue, situated near Crypto.com Arena, has a larger capacity of about 7,000 seats, roughly double that of the Dolby, and has frequently hosted major events, including the Emmy Awards and Rock & Roll Hall of Fame ceremonies.

Academy officials said the Peacock Theater will undergo upgrades and custom design modifications to accommodate the Oscars, with AEG collaborating closely on the transition.

The Oscars have historically moved between venues across Los Angeles, including long stretches at the Dorothy Chandler Pavilion and the Shrine Auditorium, before settling in Hollywood for the past two decades.

The shift marks a notable break from tradition, moving the film industry’s most prominent awards show away from its longtime Hollywood base while aiming to modernize its production and expand its reach.