Las Vegas, Nevada – High-market brands are shelling out millions for advertisements during Sunday’s Super Bowl, where a reliable audience of over 100 million viewers creates one of the most prominent advertising opportunities on television. This year, companies are paying a whopping $7 million for just 30 seconds of airtime.
The price remains about the same as last year’s commercials but over 50% more than in 2019. These millions only cover the airtime, and companies usually end up on the hook for much more with celebrity endorsements and high-budget vignettes for their products.
Anheuser-Busch InBev is one company spending big on ads in an effort to rekindle Americans’ affinity for Bud Light, the beer that reigned as a top seller in the U.S. for more than two decades before its fall caused by an ill-fated partnership with transgender activist Dylan Mulvaney. Meanwhile, major cryptocurrency firms will once again sit on the sidelines during the biggest marketing event of the year when the San Francisco 49ers and the Kansas City Chiefs face off in Las Vegas Sunday.
While the $1.7 trillion digital asset market is in a much better place than this time last year during the so-called “crypto winter,” crypto companies don’t have the money they once had for advertising. And those that do believe they can better spend their ad dollars away from the NFL spotlight.
Now-defunct FTX was a prominent advertiser during the 2022 Super Bowl when it paid $6.5 million to appear alongside industry giants like Coinbase and Crypto.com. With the absence of crypto ads this year, it’s clear that the marketing strategies of these companies are shifting.
The competition for the attention of over 100 million viewers creates a significant platform for brand promotion. Consequently, the decisions of which companies choose to invest in Super Bowl advertisements and which ones do not serves as an insight into the ever-changing landscape of both traditional and innovative industries.