AEG Inks Deal With The Academy Bringing Oscars To L.A. Live’s Peacock Theater

The Oscars are saying goodbye to Hollywood and will soon be welcomed by downtown Los Angeles.

The Academy Awards are leaving the Dolby Theatre on Hollywood Boulevard, where the ceremony has been held for over two decades, to the Peacock Theater. AEG, one of the biggest live entertainment companies in the world with a vast venue portfolio, inked a 10-year deal with the Academy of Motion Picture Arts and Sciences that makes L.A. Live the new home of the Oscars beginning in 2029.

“L.A. LIVE was built to host the moments that define culture, and there is no greater global stage than the Oscars,” Todd Goldstein, AEG’s chief revenue officer, said in a statement. “We’re proud to partner with the Academy to reimagine what the Oscars can look and feel like in the years ahead. Together, we will create an environment that celebrates creativity, honors excellence, and delivers an unforgettable experience for movie fans everywhere.”

AEG will upgrade the 7,100-capacity venue by enhancing the stage, sound and lighting systems, lobbies, backstage facilities and production-critical areas. The company is collaborating closely with the Academy to incorporate the design elements needed to accommodate film’s biggest night.

“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,” said Academy CEO Bill Kramer and Academy President Lynette Howell Taylor. “For the 101st Oscars and beyond, the Academy looks forward to closely collaborating with AEG to make L.A. LIVE the perfect backdrop for our global celebration of cinema, both for our live in-theater audience and for film fans around the world.”

AEG owns and operates L.A. Live, a 23-acre cultural hub in the heart of downtown Los Angeles anchored by Crypto.com Arena, home of the NBA’s L.A. Lakers and the NHL’s Kings. The site is also popular with the Recording Academy, which has held 23 of its last 27 Grammy Awards ceremonies at the arena.

L.A. Live recently expanded its plaza to better accommodate red carpet arrivals and activities, and the Peacock Theater’s first show will also be the first to be broadcast by YouTube, which signed an exclusive global rights deal with the Academy in December 2025, giving film fans across the globe access to the show.

It’s a major get for AEG that strengthens the downtown L.A. area. With the branding of the Academy in addition to its Regal Cinemas theater, L.A. Live becomes a more attractive destination for film fans.

The entertainment hub is better suited for major events, with hotels, food and entertainment within the campus and parking lots nearby.

It’s a big loss for Ovation Hollywood, which houses the Dolby Theatre along with restaurants and retail stores, and the surrounding area. Hollywood Boulevard has seen a decline in tourism, and though the Oscars ceremony is only one night, the area surrounding the Dolby Theatre is full of signs showing past Academy Award winners, making it a significant part of the venue’s and Ovation’s identity.

Much of the Oscars’ history is in downtown L.A., with dozens of ceremonies having been held at Dorothy Chandler Pavilion and Shrine Auditorium.