This Super Bowl, Fox Corporation is winning big.
According to a person familiar with the situation, the broadcaster has sold out of commercial space for Super Bowl 59 on February 9; over ten of those advertisements sold for $8 million each.
Fox announced that it had sold out of Super Bowl advertising spaces for the fall of 2024 during its results call with investors in November. Media reports at the time estimated average rates at almost $7 million per ad.
On the call in November, Fox CEO Lachlan Murdoch stated, “We’re sold out for the Super Bowl at record what we believe [is] a record pricing.”
According to a person familiar with the situation, who spoke on condition of anonymity to discuss nonpublic matters, a large portion of the Super Bowl ad inventory was sold during Fox’s Upfront presentation to investors last spring. As it became evident that available spots were running low, the price of each unit increased.
Super Bowl ad prices often increase by roughly $100,000 as game day draws near and the amount of inventory left decreases. According to the source, the price increase this year was more like $500,000 per seat.
Even though the prices are outrageous, it is not surprising that there is such a strong demand for commercial time during the largest live sporting event in the nation. As cable TV bundles get smaller, live sports continue to attract the largest audiences, making the games among the most sought-after live TV programs for marketers.
According to Nielsen, an estimated 123.7 million people watched the Super Bowl last year, which was broadcast on the broadcast network Paramount sCBS, the streaming service Paramount+, and the Spanish-language television network Univision, among other platforms.
The last time Fox broadcast the Super Bowl, it was in 2023, when over 115 million people watched. Media behemoths have paid high prices for the rights to NFL games in large part because of these viewership numbers.
If I’ve learnt anything, it’s that live athletic events, which draw crowds of individuals and families, are becoming increasingly more sought-after. stated Mark Evans, Fox Sports’ executive vice president of ad sales. The demand for live sports is increasing, although it is not yet at its highest level. We still have room to expand.
Since its decline during the height of the COVID-19 epidemic, the advertising market has been improving. Advertising for general entertainment programs continues to lag behind, while traditional media businesses with tentpole live programming and sports licenses are reaping the greatest benefits.
“There will be a lot of commercials from the usual players, including automakers, restaurants, and food and beverage companies, with lots of familiar celebrity faces,” Evans said of this year’s Super Bowl, which will feature the defending champion Kansas City Chiefs playing the Philadelphia Eagles again.
According to him, viewers will see more advertisements from businesses in the pharmaceutical and artificial intelligence sectors and less from streaming services and film studios.
There will be more 60-second advertisements in addition to the often well-liked 15- and 30-second ones, Evans added, noting that several marketers had fallen in love with the creativity.
This year, advertisers will also receive a little more value for their money. For the first time, the business is providing the Super Bowl on its free, ad-supported streaming service, Tubi, in addition to airing it on Fox. The broadcast network’s ad load will also be shown on Tubi.
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