Oscar 2008: General Motors Will Not Advertise

August 17, 2008–General Motors will not advertise at the 2009 Oscarcast. The automaker has been a sponsor of showbiz's biggestt night, but plunging sales, recession fears and spiking gasoline prices have pushed the company to cut back its spending on marketing and advertising.

GM spent more than $13 million in spots on this year's telecast. In reporting GM's decision not to book its customary spots, the Wall Street Journal noted that GM was opting to divert more of its ad coin to paid search placements on the web and other more targeted and measurable forms of advertising.

But despite its shrinking audience share, the Oscars remains one of the top TV events of the year and a magnet for brands.