Super Bowl Advertising Frenzy: Fox Corp. Scores Big
A Record-Breaking Sell-Out
Fox Corp. has achieved a remarkable feat, selling out all ad spots for Super Bowl 59, scheduled to take place on February 9. What’s more, over 10 of these coveted commercials have been snapped up for a staggering $8 million each, according to a source familiar with the matter.
A New Record in Pricing
During its November earnings call, Fox CEO Lachlan Murdoch proudly announced that the company had sold out of ad spots for the Super Bowl at record-breaking prices. This milestone was achieved during Fox’s Upfront presentation to investors last spring, with prices escalating significantly as available inventory dwindled.
The Power of Live Sports
The immense popularity of live sports events, particularly the Super Bowl, continues to attract massive audiences, making them highly sought-after programming for advertisers. Last year, an estimated 123.7 million people tuned in to watch the Super Bowl, with similar numbers expected this year.
Advertisers Clamor for Commercial Time
The demand for commercial time during the Super Bowl is unprecedented, with prices increasing by as much as $500,000 per spot. This surge in pricing is a testament to the enduring appeal of live sports, which continue to draw in massive audiences despite the decline of traditional cable TV.
A Shift in Advertising Trends
This year’s Super Bowl will feature a diverse range of advertisers, including companies from the artificial intelligence and pharmaceutical industries. Meanwhile, streaming services and movie studios will have a reduced presence. Advertisers are also opting for longer, 60-second ads, in addition to the traditional 15- and 30-second spots.
Tubi Joins the Fray
For the first time, Fox’s free, ad-supported streaming service Tubi will air the Super Bowl, offering advertisers additional exposure and value for their investment. Tubi will feature the same ad load as the broadcast network, providing advertisers with even more bang for their buck.
A Bright Future for Live Sports Advertising
As the advertising market continues to recover from the pandemic-induced slump, traditional media companies with sports rights and live programming are reaping the benefits. With the Super Bowl leading the charge, it’s clear that live sports will remain a coveted platform for advertisers in the years to come.
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