The Oscars will air on ABC this Sunday, Feb. 24, and all of the ad spots are already sold out. In fact, most of the ads for the telecast were sold before Christmas. While the average ad price doesn’t compare to the Super Bowl, the average 30-second spot reportedly went for $1.6 million, which would be a record-setting price. Companies such as Samsung, Coca-Cola and McDonald’s have sprung for ads on the Oscars telecast, which will be the third highly watched television event in the month of February.
The Super Bowl aired on Feb. 3, with a 30-second spot going for an average of $3.8 million, while ads during the Grammys just a week later went between $850,000 and $900,000. These nationwide television events, including the Oscars, have all had record audiences in the last two years, leading to record prices for each respective event. It’s no secret why companies are willing to dish out an exorbitant amount of money – a guaranteed audience in the eight-figure range.
Companies are now using the Grammys and the Oscars as a cheaper alternative than the Super Bowl to launch new ad campaigns. This year, the Grammys included new ads from Chevrolet, Cover Girl, Pepsi and Bud Light Platinum, to name a few.
While the TV spots will still get the most attention, companies are also starting to pay more attention to digital platforms. Hyundai, Samsung and the University of Phoenix will be primary sponsors for the Oscars on its official website and it’s companion mobile application. Additionally, as we’ve already seen with the Super Bowl and the Grammys, there are many people talking about the event on social media, especially Facebook and Twitter, meaning people are watching with their laptops, tablets or smartphones in hand. This provides another avenue for companies to reach consumers, and they are starting to take advantage of that additional exposure – the best recent example being Oreo.
With an expected audience of over 40 million people, the goal for any company should be, as always, to make an ad that will get people talking Monday morning at the office. However, the record-setting price for a 30-second spot will be well worth it if that spot can get people talking immediately, as it will get the attention of anyone who may have missed it.
[Sources: Deadline.com, Billboard, TV Week]