High-Market Brands Spend Millions on Super Bowl Ads, Despite Rising Costs
The Super Bowl, one of the most-watched television events in the United States, continues to attract high-market brands willing to spend millions on advertisements. With an audience of over 100 million viewers, the Super Bowl offers a prime advertising opportunity. This year, companies are shelling out a staggering $7 million for just 30 seconds of airtime. While this price remains consistent with last year’s commercials, it represents an increase of over 50% compared to 2019.
However, the cost of airtime is just the tip of the iceberg for these companies. They often find themselves on the hook for much more, as they invest in celebrity endorsements and high-budget vignettes to promote their products. One such company is Anheuser-Busch InBev, which is spending heavily on ads to revive Americans’ love for Bud Light. The beer, which was once a top seller in the U.S. for more than two decades, suffered a decline due to an ill-fated partnership with transgender activist Dylan Mulvaney.
Interestingly, while high-market brands are willing to invest millions in Super Bowl ads, the cryptocurrency industry has decided to sit this one out. Despite the digital asset market’s improved position compared to last year’s “crypto winter,” crypto companies are not as financially equipped for advertising as they once were. Many 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 a significant splash as an advertiser, paying $6.5 million to appear alongside industry giants like Coinbase and Crypto.com. However, this year, most major cryptocurrency firms have chosen to abstain from advertising during the Super Bowl.
In conclusion, high-market brands are still willing to invest millions in Super Bowl ads, recognizing the immense advertising potential of this event. However, the rising costs of airtime and additional expenses for endorsements and vignettes make it a significant financial commitment. On the other hand, the cryptocurrency industry, despite its growth, has decided to allocate its advertising budget elsewhere, believing that it can achieve better results outside the NFL spotlight.