The Academy Awards is nicknamed "prom for Hollywood," but it isn't just the biggest night of the year for Hollywood star-watching — it's also one of the biggest live TV events of the year, which means an ad goldmine for ABC (owned by Disney).
Perhaps the most apt nickname for the Oscars is "the Super Bowl for women," because it's one of the most important events of the year for advertisers — arguably the best occasion to reach a captive audience of women. ABC, which broadcasts the event, said it saw the highest demand for Oscar ads in over a decade.
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The average 30 second spot sold for between $1.65 million and $1.8 million, the highest prices since 2008, when ads averaged $1.7 million. That means this year ABC will bring in about $85 million in ad revenue, more than it has in over a decade.