From Wall Street Journal:
Amid a sharp downturn in automotive advertising on television, General Motors Corp. has pulled out of its longtime sponsorship of the Academy Awards, one of the biggest annual events on broadcast television.
The move will leave Walt Disney Co.’s ABC without one of its biggest advertisers for Oscar night in February. The auto maker has long been one of the biggest spenders on the star-studded program. It shelled out $13.5 million for ad time on the broadcast this past February, according to TNS Media Intelligence. Over the past 11 years, GM has spent more than $110 million for ad time on Oscar night, according to TNS.
(…)
ABC brings in about $80 million in ad dollars annually from the Oscar broadcast, according to Nielsen Monitor-Plus. Other past advertisers on the show have included J.C. Penney Co., American Express Co., Coca-Cola Co. and McDonald’s Corp.
In 2000-03, when the ad market tanked, no one was really advertising online. The good news about 2007-0?’s ad meltdown is that many major marketers are advertising online, realize it’s more effective… so when they scale back, they usually scale back on TV… and when they reallocate ad dollars, it’s TO the Web, and not away from it…
All in all, GM’s decision not to advertise on TV’s Oscar show is pretty much a sign of the times, but it’s still shocking… as boring as it might be, it’s still the Oscar’s!
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