GM cuts back marketing budget for 2009, hurts AutoBots’ feelings
GM has said that it is cutting North American marketing spending by $800 million in 2009. The move is expected to trickle down into sponsorship money for the upcoming Paramount sequel Transformers: Revenge of the Fallen – which hits theaters this summer.
The first Transformers drummed up a lot of interest for the 2010 Chevrolet Camaro which hits dealerships this spring. It is said that 10,000 customers contacted GM last fall to reserve the muscle car before its production debut. According Advertising Age, GM may not be in its current financial shape with the sequel hits theaters and may not be able to “reap” the benefits of a Chevrolet star-studded Autobots lineup.
In recent years, Hollywood movies can gather up at least $30 million to $50 million in sponsorships that tie into movies. Since GM lost $30.9 billion in 2008 and reported a net loss of $9.6 billion in the fourth quarter, the Detroit automaker is cutting back spending. That means Paramount will have to make up for GM’s scale back.
Transformers: Revenge of the Fallen – Autobots:
Bumblebee Autobot Assembling at the 2009 Chicago Auto Show:
Source: Advertising Age
