ABC cuts Oscar ad rates


ABC, in a move that reverses years of escalating pricing, lowered the cost of spots for yesterday’s Academy Awards show, reported The LA Times. Last year ABC sold commercial time in the Academy Awards show for as much as $1.8 million for a 30-second ad. Now, with the recession in full swing on top of five consecutive years of declining Oscar ratings, ABC has had to lower its rates. Individual spots have been selling for $1.4 million to $1.7 million. The telecast should generate about $68 million in revenue for ABC, according to TNS Media Intelligence, a 16% decline from last year.