For sale: a 30 second spot on the Academy Awards telecast on ABC.
Asking price: $1.7 million
If that sounds like a lot of money, you're right. In fact, it is an increase from the $1.3-1.5 million asking prices in 2009 and 2010.
But, it is a bargain if you consider that in 2008, the Oscars got as much as $1.83 million per spot.
It seems ABC is thinking things are looking up.
Part of the rationale for the price hike is a perceived bounce-back in the economy. The other is renewed interest in the telecast itself.
Last year, ABC saw an average audience of 41.3 million viewers--the biggest numbers it has seen in half a decade and far above the 32 million viewers who watched in 2008, when they were charging at that high water mark.
Event TV (the Oscars, the Super Bowl, etc.) is still a big money maker for broadcast television, despite the distillation of viewers to cable, mobile, and other digital devices. The Oscars are typically the biggest ratings event on TV aside from the Super Bowl and the National Football League's NFC and AFC Championship games.
Source: Advertising Age