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?