The significance of Procter & Gamble’s decision to skip this year’s broadcast of the Oscars should not be overlooked. When one of the world’s largest advertisers takes a pass on one of TV’s biggest broadcast events, the tide (no pun intended) has inexorably turned against the 3o-second spot. (It’s worth noting that P&G’s Olay brand is advertising prominently on the Oscar website.)
The Academy Awards is up there with the Super Bowl as Big Time TV – MediaPost reports that ABC will be asking between $1.5 and $1.7 million per 30-second spot. Ogilvy & Mather Chairman Steve Hayden reflected not too long ago on how events like the Oscars and Super Bowl are the last remaining advertising venues for “real time, shared experiences” with a mass audience. The Super Bowl still creates an advertising frenzy, but we may be one step closer to crossing the Academy Awards off that list for sponsors.