Los Angeles, California - The show will go on.

After rampant speculation about a comeback, the Golden Globes is returning next year to NBC, its longtime broadcast network, in time for the show's 80th anniversary, the Hollywood Foreign Press Association announced Tuesday in a statement with the network and Dick Clark Productions.

NBC will show next year's broadcast on January 10 on TV and on its streaming platform Peacock as part of a one-year agreement, which also allows the HFPA and Dick Clark Productions to "explore new opportunities for domestic and global distribution across a variety of platforms in the future," according to a joint statement.

"We recognize the HFPA's commitment to ongoing change and look forward to welcoming back the Golden Globes to NBC for its landmark 80th Anniversary in January 2023," said Frances Berwick, chair of entertainment networks for NBCUniversal Television and Streaming, in the statement.

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"We are thrilled to announce the return of the Golden Globe Awards on NBC and to hosting the 'Party of the Year' for audiences around the world who have been waiting for its return," HFPA President Helen Hoehne said.

"The HFPA remains committed to important changes and supporting programs which prioritize diversity, inclusion, and transparency."

The move caps more than a year of chaos and uncertainty for the HFPA, which hosts the Globes, that saw the association shunned by virtually every quarter of the entertainment industry.

Last year, NBC dropped the broadcast of the 2022 Globes show, a contingent of powerful publicists boycotted the organization, and studios including Netflix and WarnerMedia cut ties after a Los Angeles Times investigation raised questions about the group's ethical and financial lapses and revealed that not one of the then-87 members was Black.

Returning to the air gives a major boost to the struggling HFPA, which took a financial hit when NBC opted not to broadcast the Golden Globes this year. The organization had generated $27.4 million a year from the network.

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Financial terms of its new one-year deal with NBC were not disclosed, although the broadcast network was expected to secure a reduction in its fee, said people familiar with the negotiations who were not authorized to comment.

Over the past 18 months, the HFPA has undertaken a series of reforms, including establishing new bylaws, banning gifts, hiring a chief diversity officer, and adding 21 new members, six of whom are Black.

It has also announced various partnerships, including with the NAACP and the World Bank.

Last month, after amending its bylaws, the association added 103 international, nonmember voters to its ranks, both expanding and diversifying the organization's composition.

While NBC's decision appears to put an end to the HFPA's pariah status within the entertainment industry – and even inside the group – it remains to be seen whether Hollywood stars are ready to embrace the show amid skepticism that reforms didn't go far enough.