And the award for trying to sell top-priced advertising in a format that may no longer be as valuable as it once was to Madison Avenue goes to….ABC.
Executives at the Disney-backed broadcast network are still working to sell commercials for the 96th Oscars, slated to air on Sunday, March 10, according to three people familiar with the negotiations — with a little more than two weeks to go before the glitzy event. While CBS’ recent Grammys telecast showed growth after ratings hit a nadir in 2021, advertisers have viewed some of the big annual awards programs with new skepticism as the shows’ allure has faded and proved less enticing to younger audiences.
“While we’re not yet sold out, we are approaching sell out,” Disney said in a statement .”We’re three weeks away from the show and well ahead of where we typically are in any given year.”
Disney has been seeking between $1.7 million to $2.2 million for a 30-second spot in the event, according to these people, but media buyers caution that they think ABC may have been open to lower bids. Still, Disney may be acting with more confidence. Last year, the company sought $1.6M to $2.1M for a 30-second spot.
The 2023 show also showed some momentum. The 95th Academy Awards snared an average audience of 18.7 million viewers, the Oscars’ best audience since the 2020 awards, which took place before the coronavirus pandemic that forced movie theaters to close and many Hollywood projects to be scuttled. The most-watched Oscars telecast in 1998, which featured “Titanic” winning the Best Picture category, drew an average of 57 million viewers
The Oscars have long been positioned as an extravaganza that draws in a broad audience that skews female, and a place for marketers of luxury goods and services that might not be as heavily targeted toward men. Rolex, Allstate, EJ Gallo, Constellation Brands and Stellantis were among the show’s sponsors in 2023.
But advertisers scaled back their Oscars investment last year. Sponsors spent approximately $117.4 million in advertising against 2023’s Oscars broadcast, according to Vivixx, a tracker of ad spending, representing a 15% decline from 2022’s $138.9 million. ABC sold 70 ads in 2022, but just 51 in 2023, according to Vivixx data.
Rolex is returning to the Oscars as an advertiser this year, and will be joined by Diageo, LVMH.,Verizon, Eli Lilly, Airbnb and others. Disney expects to show new ways of weaving some top advertisers in and around the program in what it bills as “never-before-seen creative executions.”
The Oscars may be all about stand-out performances by actors, directors and technicians behind the scenes, but advertisers are more concerned about the show put on by their spots. Disney intends to. help, offering a broader array of data and analytics. Advertisers may be able to examine everything from consumer attention and search to cultural relevance and effectiveness thanks to data the company will. offer from TVision, EDo, Collage Group, and VideoAmp.
