This is pretty remarkable.
According to reports Disney’s ABC is having a hard time selling commercials for the upcoming broadest of the Academy Awards.
Less than 19 million people watched the broadcast last year compared to ten years ago when more than 40 million viewers would tune in.
With about two weeks to go ad space is still available.
From Breitbart:
Executives at Disney-owned ABC are still working to sell commercials for the 96th Oscars, seeking between $1.7 million to $2.2 million for a 30-second spot in the event, three people familiar with the negotiations told Variety.
The situation is apparently so dire that media buyers told Variety that they think ABC may have been open to lower bids.
By comparison, a similar commercial during the recent Super Bowl on CBS went for $7 million.
The Oscars’ downward trajectory has had advertisers fleeing.
Ad buyers spent approximately $117.4 million for 2023’s Oscars broadcast, according to Vivixx, a tracker of ad spending, Variety reported. That represents a 15 percent drop from 2022’s $138.9 million.
ABC sold 70 ads in 2022, but just 51 in 2023, according to Vivixx data.
Overall ad spending for TV has taken a massive hit thanks to the Biden administration, with households cutting back on extravagances as they are being pummeled by sky-high prices for essential goods and services, including food, energy, rent, and insurance.
Part of the problem may have to do with host Jimmy Kimmel who often mocks conservatives and is not expected to have his contract renewed.
“I think this is my final contract,” he told the Los Angeles Times. “I hate to even say it, because everyone’s laughing at me now — each time I think that, and then it turns out to be not the case.”
“I still have a little more than two years left on my contract, and that seems pretty good,” he added. “That seems like enough.”
