Disney’s ABC is reportedly struggling to sell commercial time for its broadcast of the upcoming Academy Awards, with ad space still available just two weeks before the March 10th show.
Viewership for the Oscars has declined sharply over the past decade to under 19 million last year.
This lack of interest from viewers has led to less advertiser demand.
While ABC is seeking $1.7-2.2 million for 30-second ads, media buyers believe the network may accept lower bids given the challenge selling space.
Overall ad spending for the 2023 Oscars is down 15% from the previous year.
Rising costs have squeezed household budgets, impacting advertising revenue across TV.
The Oscars declining viewership and this reduction in advertising dollars is hammering profits for Hollywood studios who own networks, leading some like Disney to implement job cuts.
