GM gives the Oscars thumbs down

According to a report by Reuters News Service, General Motors will not buy advertising on next year's television presentation of the Academy Awards. If you don't think that's a big deal, you don't realize what a ripple effect that can have on several industries.

Not only will the television industry suffer from the lost revenue -- GM has been one of the biggest advertisers on the Oscar telecast for years -- the film industry will suffer as well. When revenue falls for the Oscars, there's less money for publicity. Less money for publicity means less impact for the Awards. The Academy Awards are generally a real boost for small films and arty films, a side of the film business that needs every boost it can get right now. The fewer small films that succeed, the tougher the independent and art house business gets for exhibitors. They're forced to run blockbusters instead, meaning that you get fewer film choices when it comes time to spend your entertainment dollar.

So, it may still be true -- "As GM goes, so goes the nation."

Photo © Jason Fogelson