Netflix has been showing its prestige movies like Roma in theatres, but only in stretches of a few weeks before they appear on its streaming platform.
The US Justice Department also weighed in on the issue.
It warned the academy that if rule changes hurt Netflix, they may violate laws meant to protect competition, according to a person familiar with the matter.
Makan Delrahim, head of the agency's antitrust division, sent a letter to Academy chief executive Dawn Hudson in March, expressing concern about the way new award rules might be written, the person said.
The academy said this week that it will continue to ponder the issue.
"We support the theatrical experience as integral to the art of motion pictures, and this weighed heavily in our discussions," Academy president John Bailey said in a statement.
"We plan to further study the profound changes occurring in our industry and continue discussions with our members about these issues."
The academy did make some changes in other areas. The foreign language film category, for instance, will now be called the international feature film.
"We have noted that the reference to 'foreign' is outdated within the global film-making community," Larry Karaszewski and Diane Weyermann, co-chairs of the International Feature Film Committee, said in the statement.
The 92nd Oscars will be held on February 9, 2020, in Hollywood.