Oscars ad spots - worth the investment?
This year’s Oscars saw the usual amount of haute couture and tears as the gongs were given to the great and the good. What it didn’t see though was the same type of TV coverage. Josh Krichefski, CEO of MediaCom, finds out whether this new approach damaged TV box office.
There was an air of uncertainty about this year’s Oscars. The winners seemed less clear-cut than in other years, with the main awards at the Golden Globes and BAFTAs going to different winners. This was the first Oscars to go ahead without a host since 1989. And, for many in the industry, all eyes were on viewing figures, which in 2018 had fallen to an all-time low.
This may not immediately seem important to the advertising industry. Why does a hostless Oscars impact advertisers and agencies? The answer is that the Oscars is a mainstay of annual advertising plans and budgets. As an event, it prides itself on maintaining tradition and is often a throwback to old Hollywood. It has been assumed year after year that this is what audiences want to see.
A move away from much of the tradition left many wondering whether viewing figures would drop further and, ultimately, whether the Oscars was still the advertising fixture it once was. The answer, in my opinion, is an unmitigated “yes, it is!” But with some caveats.