Confronting $4.2 Bil Q3 Loss, GM Cuts Upfront Ad Buys

Nov 7, 2008  •  Post A Comment

General Motors, one of the nation’s biggest advertisers, on Friday reported a $4.2 billion third-quarter operating loss and has been cutting back on its first-quarter upfront ad buys on broadcast and cable networks.
Network ad sales executives say GM this week has been taking options on its upfront deals, which allow it to return as much as 25% of the commercials it had agreed to buy.
In its announcement GM, which is trying to conserve cash, said it will save $1.5 billion by cutting advertising and dealer promotional support and by reducing production starting next quarter.
It was unclear how much GM was cutting its national advertising. The automaker spent $1.17 billion on TV last year.


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