ABC announced Thursday it completely sold out of advertising time for the Academy Awards broadcast, Reuters reported.
During one of the year's most popular TV events, topnotch companies such as Amazon.com (Nasdaq: AMZN), Proctor & Gamble (NYSE: PG), AT&T (NYSE: T), Best Buy (NYSE: BBY), Sprint Nextel (NYSE: S), McDonald's (NYSE: MCD) and Coca Cola (NYSE: KO) filled up the commercial spots.
Among the advertisers are studios such as Viacom Inc.'s (NYSE: VIA.B) Paramount Universal Pictures, Walt Disney Pictures and Summit Pictures. This is only the second year that studios are allowed to advertise during the Academy Awards broadcast, Reuters reports.
Last year's broadcast drew more than 41 million U.S. viewers, the biggest audience for the Academy Awards in five years. The Oscars broadcast usually is the second most watched U.S. television broadcast, trailing only the Super Bowl.
The rates for this year's 30-second commercial spots averaged approximately $1.75 million, Reuters reports. This rate makes the event one of the most expensive places to advertise on television.
The 83rd Academy Awards will be on Sunday Feb.27 at 8 p.m. EST on ABC.