Cosmetics giant L’Oreal, which ran eight ads during the Oscars last year, has dropped out of this year’s ceremony. Car-maker GM pulled the plug on its Oscar advertising in August.
A number of other major sponsors have cut back on their Oscar ads: American Express will only air one commercial during this year’s ceremony, but rival MasterCard has four spots. Coca-Cola, meanwhile, will only run five ads after paying for eight last year.
Because of a lack of demand for sponsors, ABC has cut prices for spots during the show from as much as $1.8 million each last year to $1.4 million-$1.7 million this year, according to the New York Post.
That’s not a huge discount, which could explain why the show still seems to be struggling to book some advertisers. Last week, Paramount bought the first movie ad during the show for its April drama, The Soloist, and the Post reports that Disney/Pixar’s Up will also run a spot during the awards. But since Disney also owns ABC, we wonder how much Pixar had to pay for that ad or if ABC essentially used its own money to buy a commercial.
One company that is scooping up Oscar ads is Hyundai. The Korean automaker, which reportedly never advertised during the awards before, has bought seven spots this year, which could make it the show’s biggest sponsor.
Photo From ZOOZOOM