The World: Chicago - Advertisers spend $72 million on Oscar spots

The 26 minutes of advertising time sold by ABC during this year's Oscars ceremony brought in around $72 million, according to TNS Media Intelligence.

The figure, which was the highest recorded since 2004, came despite two of the major sponsors, L'Oreal and General Motors, pulling out.

Of the advertisers involved, Hyundai bought the largest amount of media time, purchasing eight units, amounting to four-and-a-half minutes of broadcasting time. The telecast of the event saw a 13 per cent year-on-year rise in audience figures, however, it still ranked as the third-least watched Academy Awards show.