Disney’s ABC is reportedly struggling to sell commercials for its upcoming broadcast of the Academy Awards, with ad space still available a mere two weeks from the March 10 show.
The lack of advertiser interest comes amid growing public disaffection for the Oscars and the woke celebrities who have turned the once must-see event into a platform for progressive grandstanding.
Viewership for the Oscars is still way down despite receiving a slight boost last year from the best picture nominees Top Gun: Maverick and Avatar: The Way of Water. Fewer than 19 million people tuned in to last year’s ABC broadcast. Ten years ago, the Oscars drew more than 40 million viewers. In 1998, the show attracted more than 50 million viewers.
ABC is bringing back the virulently anti-conservative Jimmy Kimmel to host this year’s show. Kimmel has repeatedly used his ABC late-night show to make fun of Trump supporters and conservatives.
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.
The precipitous decline in advertising is hammering the bottom lines of Hollywood studios, which rely on their network TV and cable divisions to help boost revenue. As a result, many have resorted to lay offs. Disney eliminated 7,000 jobs last year, with more budget cuts to come.
Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at dng@breitbart.com
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