Hyundai Spends Big for the Oscars

Hyundai is slated to be the most high-profile automaker during Sunday's broadcast of the 82nd annual Academy Awards. But there's a twist, since strict rules for TV ads mean the Korean automaker can't use its usual pitchman: Jeff Bridges.

Bridges is a best-actor nominee for the movie Crazy Heart. But the Academy of Motion Picture Arts and Sciences prohibits actors who are in the show from participating in commercials during their part of the show. This was a bit of a problem, since Hyundai has eight ads scheduled for its new Sonata and Genesis sedans.

Filling in for Bridges by reading voice-over copy will be Kim Basinger, Richard Dreyfuss, David Duchovny, Catherine Keener, Mandy Patinkin, Michael Madsen and Martin Sheen.

"It took seven stars to fill the void, but we're excited about the cast we've lined up for Oscar night," said Joel Ewanick, Hyundai Motor America vice president of marketing, in a statement.

Each 30-second spot is valued at over $1.2 million, meaning the ambitious Korean automaker spent over $10 million in stealing the spotlight at this year's Oscars. Hyundai is in the second year of a three-year contract as the national automotive sponsor of the event.

Inside Line says: Hyundai takes center stage at what observers are

[Source: Hyundai]

Posted in: Hyundai,Marketing