High-Market Brands Spend Millions on Super Bowl Ads, Airtime Costs Reach $7 Million for 30 Seconds
The Super Bowl is not just a highly anticipated sporting event; it is also a goldmine for advertisers. With an audience of over 100 million viewers, companies are willing to shell out millions for a mere 30 seconds of airtime during the game. This year, the price tag for these coveted ad slots is a staggering $7 million. While this figure remains consistent with last year’s rates, it marks a significant increase of over 50% compared to 2019.
However, the cost of airtime is just the tip of the iceberg for these high-market brands. Companies often find themselves on the hook for much more when factoring in celebrity endorsements and high-budget vignettes for their products. One such brand is Anheuser-Busch InBev, which is investing heavily in advertisements to revive Americans’ love for Bud Light. This beer was once a top seller in the U.S. for more than two decades but suffered a decline due to an ill-fated partnership with transgender activist Dylan Mulvaney.
Interestingly, while many industries have traditionally poured money into Super Bowl advertising, one sector will be noticeably absent this year. Cryptocurrency firms, which have previously been prominent advertisers during the big game, have decided to sit on the sidelines. Despite the digital asset market’s improved standing compared to last year’s “crypto winter,” these companies no longer have the same financial resources for advertising. Moreover, some believe that their ad dollars can be better spent away from the NFL spotlight.
It is worth noting that during the 2022 Super Bowl, now-defunct FTX made waves as a prominent advertiser. The company paid a hefty $6.5 million to appear alongside industry giants like Coinbase and Crypto.com. However, this year, crypto enthusiasts will have to look elsewhere for their ad fix.
In conclusion, the Super Bowl continues to be a prime opportunity for high-market brands to showcase their products to a massive audience. With airtime costs reaching a staggering $7 million for just 30 seconds, companies are investing heavily in advertising during the game. However, the absence of cryptocurrency firms this year highlights the changing landscape of advertising and the shifting priorities of these companies. As the Super Bowl approaches, viewers can expect to see a wide range of captivating and expensive commercials vying for their attention.