A decline in Oscars ratings aren’t making commercials any cheaper for the 2017 ceremony.
TheWrap has confirmed that ABC is asking for more than $2.1 million for the remaining 30-second commercials that will run during the February broadcast.
According to a study done by Kantar Media, the price of an Academy Awards ad has risen steadily over the past five years. The total ad spending for 2014 was $95 million, with an average price per ad of $1.76 million.
“The robust pricing reflects advertiser demand for live TV events that can generate strong engagement in social media coupled with the desirable demographic profile of the viewing audience,” Kantar wrote.