|GM opts against Super Bowl ad amid cost cutting|
|Written by Admin|
|Monday, 22 September 2008 10:15|
GM Spokeswoman Kelly Cusinato said that while GM will remain a sponsor of the National Football League and will likely air ads before and after the game, it will not buy ad time during the actual event.
``We're in the midst of cost cutting,'' Cusinato said. ``We're scrutinizing all of our programs and all of our media spending, so in the midst of that, we decided against it.''
The decision to skip the Super Bowl advertisement was also based on the fact that the automaker won't have a major vehicle launch to promote then, Cusinato said.
The Super Bowl isn't the only major TV event that GM has passed on recently. The company also decided against airing ads during Sunday night's Emmy Awards and the upcoming Academy Awards, Cusinato said.
Despite a soft advertising market, NBC hasn't had trouble finding other takers for the 2009 game's spots.
r this month that it had sold 85 percent of its available slots, with a dozen 30-second commercials going for $3 million apiece. At that time, only about 10 slots were left.
For the 2008 Super Bowl, GM ran an advertisement for its GMC Yukon hybrid during the game, along with one for its Chevrolet Tahoe during the pregame broadcast, Cusinato said.
Cusinato said GM doesn't disclose how much it spends on individual advertisements, or how much it expects to save as a result of its decision to not advertise during the game.
GM shares fell $1.50, or 11.5 percent, to close at $11.58. The stock has ranged from $8.81 to $43.20 over the past year.