The Oscars and the Economy
It seems as if the economy has caught up to Hollywood!
An article in the January 19 issue of Advertising Age mentioned a bit of a discount for would-be Academy Awards advertisers. Instead of the whopping $1.7 million for a spot last year, advertisers could snag a spot for a mere $1.4 million. Not only were spots cheaper… movie advertisements were accepted for the first time.
This was a result of big boys like FedEx and General Motors dropping out of the sponsor lineup last year. ABC (and the Academy) seemed to hope allowing film ads would fill the void.
The advertising rate decrease could have a lot to do with last year’s disappointing ratings, 32 million viewers, compared to the 39.9 million in 2007. Not to mention the great writer’s strike of ‘07/’08, which canceled the Golden Globes. There has been some tension with the Screen Actors Guild as well, so advertisers may have been reluctant to drop their dough on an event that could be canceled as result of a strike.
Even the stars weren't as bright on Oscar night! Many of the "best dressed" stars were adorned in drab shades (ivory, champagne, grey, black) and minimal jewelry-- albeit their outfits still cost more than most of our homes, and they still looked fabulous!
Thoughts?
Labels: ABC, academy awards, advertising, economy, hollywood, marketing, oscars, West Virginia
posted by Erin at 4:52 PM
1 Comments:
Good thought Erin!
On that note, seeing that this depression *Ehh Ehhhh* I mean recession, has spilled over into every market, there might actually be some opportunity available now. When I say, "there might actually be some opportunity available", I am refering to the fact that, because "The Giants" are backing out of ad slots, and prices are dropping, slightly smaller competitors may have a chance to get some exposure that would have before been unobtainable. Maybe i'm just being a way to eager ray of sunshine in the midst of a blackened sky, but I think that's the only way through this financial market crisis. Find the positive things that are resulting from the emense amount of negative, and you just may monopolize off of distress and turmoil. In no way am I downplaying what's currently going on in the economy, I'm just turning up the tempo on my end. The party only ends when you stop dancing!
Great post Erin!
9:15 AM
Post a Comment
<< Home