Longtime Oscars sponsors Coca-Cola and Hyundai Motor have dropped their support of the event, their places taken by PepsiCo and General Motors, ABC disclosed Thursday.
The Walt Disney network said J.C. Penney and American Express, two other veteran Oscars advertisers, remained on the roster for the event. Other advertisers who will appear during the March 2, 2014, telecast are Johnson & Johnson, AARP, Chattem, Coldwell Banker, Johnson & Johnson, Mars, McDonald’s. Samsung, Sprint, Sunovion, and Unilever,which will advertise two products: Dove and Lipton.
Adweek previously reported that Coca-Cola would not return to the venerable awards program, while Variety reported Hyundai’s potential absence in October.
Hyundai had been the event’s exclusive auto advertiser since 2009, part of an aggressive ad strategy that had the Korean automaker taking over many ad perches previously held by U.S. automakers. In 2012, Hyundai spent about $11.3 million on Oscars advertising, according to Kantar, a tracker of ad spending, about three minutes and 30 seconds’ worth of advertising. Coca-Cola. meanwhile, spent around $8.1 million on about two minutes and 30 seconds’ worth of commercials, primarily in support of Diet Coke.
In a statement. a Coca-Cola spokeswoman said Diet Coke “decided to place its advertising in a number of different broadcasts to meet the goals of its 2014 campaign.” A spokesman for Hyundai did not respond to an emailed query seeking comment. An ABC spokeswoman declined to comment on past advertisers and their status in the program.
ABC sold out of ad inventory for the show in October. The network had been seeking between $1.8 million and $1.9 million for a 30-second spot, a new benchmark for Oscars ad coin.
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