ABC Struggling to Sell Commercial Space for The Oscars

(LibertySociety.com) – In recent years, the entertainment industry has continuously been on the decline. Many factors have contributed to this development, including the pandemic and out-of-touch celebrities. The Oscars have lost millions of viewers since the late 1990s, but ABC has continued to air the Hollywood lovefest each year. In 1998, over 50 million viewers tuned in to see the elegant and sometimes wacky couture worn by their favorite celebrities. In 2014, the Oscars still captured over 40 million viewers. Last year, just 19 million people watched.

Now the Disney-owned ABC is reportedly having trouble selling advertisement slots for the March 10 broadcast. In recent years, celebrities have increasingly expressed disdain for the average American, and most awards shows have a far-left theme. ABC’s choice for host of this year’s Oscars, Jimmy Kimmel, could lead to even fewer viewers tuning in. Kimmel has spent many nights on his show attacking conservatives, especially those who support former President Trump. The 30-second advertisement slots for the Oscars range from $1.7 million to $2.2. million, but corporations are not biting. According to Variety, its sources said that ABC was considering taking lower bids just to fill the open slots.

Vivixx, an ad-spending tracking company, reported a 15 percent decrease in ad spending from 2022 to this year. While some may blame the inflated economy on cuts in ad spending, CBS had no problem selling 30-second advertisements for the 2024 Super Bowl at $7 million each. Studios in Hollywood are reliant on advertising to increase revenue, and the decrease in ad spending has led to layoffs. Disney plans to make more cuts to its budget this year following a cut of over 7,000 jobs just last year.

Paramount Global, which includes CBS, announced on February 13 that it was laying off 800 employees. The move came as a shock to many, as the CBS-aired Super Bowl drew in 123.4 million viewers. Paramount Global’s CEO said that the decision was made to “enable us to build on our momentum and execute our strategic vision for the year ahead.”