Advertising Age reports that advertisers are paying up to $1.82m per 30-second spot for ABC’s 24 February live telecast of the Oscars. This represents a 7% increase over last year’s top price.

Live telecasts are reportedly highly prised by advertisers as viewers are more likely to watch the event live rather than record the programme and watch at a later date, thereby skipping the ads.

Advertisers booked for the Oscar telecast include Coca-Cola, Proctor & Gamble, American Express, Unilever, JC Penney, L’Oreal, Mars, McDonald’s and MasterCard.

General Motors Corporation is the exclusive auto sponsor of the event and will provide environmentally friendly cars for red carpet duty.