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Business, Marketing

Kodak > No Oscar Winner

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Welcome to the 2012 Academy Awards, live from the Twitter Theatre.

This year’s Oscar nominees will walk the red carpet of the Vanilla Coca-Cola Theatre.

Doesn’t sound right does it?

For 10 years now, Kodak has held the naming rights to the hall where Oscar winners are recognized for their contribution to the movie industry.

But last week, Kodak filed for Chapter 11 bankruptcy protection, as moves in modern technology hit its bottom line.

Now, it’s seeking to break its contract as naming sponsor of the Theatre. It’s been reported that Kodak doesn’t believe it’s worth the estimated $4million a year cost.

It’s still unclear whether the Theatre will bear the Kodak name when the awards are held in just a few weeks.

Now the race is on to find anger naming sponsor.

The Acadamy does have a small say, but while it doesn’t approve names, it can disapprove them given the relationship the building has with the Oscar brand.

It will be very interesting to see how this situation is resolved and which sponsor will be prepared to fork out cash at a time the global economy is winding down.

MEMO>ricardo

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