It's the opposite--the Golden Globes and the Oscars both had the lowest viewerships they've had in years, with Golden at 6.9 Million and the Oscars at 10.6 million (near 56% drop for the Oscars, and a 63% drop for GG's).
I'd argue The Game Awards is one of the few groups' that have found a really good method of working as a viable awards show that can be marketable. I've been one of those on the side of the coin that if the Oscars or Golden Globes shift to global-viewership free (while heavily marketable), it could be a good chance to bring back viewership. I will not be surprised if in a few years, we see more groups shift to streaming on sites like Youtube or Twitch, or if they have to uphold contracts for the case of the Academy, Disney using Disney+ and Hulu as exclusive hubs to watch that of the Oscars.