The Wall Street Journal-20080116-Hyundai Arm May Pull Super Bowl Ads
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Hyundai Arm May Pull Super Bowl Ads
Hyundai Motor America, which booked two spots in the Super Bowl, is considering pulling out of its ad commitment because of concerns about the economy.
The U.S. unit of South Korea's Hyundai Motor Co. purchased two 30- second ad slots early last year when economic conditions weren't as gloomy. It is worried that taking out high-priced ads in this environment might rub some consumers the wrong way. The company said that if it does pull out, it won't take the money back but will reinvest it in television ad time for a different show.
Hyundai's review comes as the entire U.S. auto market is weakening. News of the review was reported earlier by the Automotive News Web site.
Ad time for this year's game, which will air Feb. 3 on News Corp.'s Fox, has sold briskly. As of yesterday, only one of the 63 ad slots was still unsold. Prices for 30 seconds of ad time have topped $2.7 million this year, up from a high of $2.6 million for last year's game.
If Hyundai pulls out and Fox is unable to sell the ad space, Hyundai will have to air its ads. But given the high demand for ad time, Fox would likely be able to sell the slots at an even higher price. A spokesman for Fox declined to comment.
