ABC has sold all of its commercial time for this month's Academy Awards telecast.
Walt Disney Co. chief financial officer Jay Rasulo announced the milestone Tuesday during a conference call with Wall Street analysts. ABC's ad sales team established the quickest pace for the Oscars ad sales in more than a decade.
ABC also notched substantial rate increases over last year's ad rates for the 85th Annual Academy Awards show Feb. 24. The Disney-owned network is collecting $1.7 million to $1.85 million per 30-second spot for the upcoming extravaganza, people familiar with the negotiations said.
Typically, ad sales stretch into February. But this season, demand was exceptionally high and most advertisers had placed their orders before Christmas, Rasulo said.