Super Bowl LVIII – buzzing with excitement!
Always fascinated by how the Super Bowl has doubled as a strategic business playground (including big-budget advertising, sports betting, and exposure/growth for artists) in addition to being the prime time sports event that captures the hearts and minds of millions in mainstream America!
But, football aside, many people tune in solely for the entertainment value— whether that be its star-studded halftime show or unique commercials. In fact, according to Burson-Marsteller, 53% of Americans would be disappointed if the Super Bowl went commercial-free. Creatively brilliant ads have historically managed to tug at viewers’ heartstrings often creating sustained brand awareness, market share and stock performance. It's a lesson in the power of branding and showcases how emotional engagement can create economic gains. Today, many such ads have the added potential of virality for months to come.
The Stats - the average commercial cost has been steadily rising: In 1967, it was a mere $37,500 (approx. $300K in today’s money). By 2002, the average cost was up to $2.2 million dollars and a 30 second ad today costs a whopping $7M, a 200%+ increase since 2002!
Measuring the ROI, however, is complicated - according to Kantar research, 2021 ads delivered an average return on investment (ROI) of $4.60 per dollar spent, with some in the double digits. Instead of shooting for purchase intent, the most sought-after metric is brand lift, the increased likelihood of someone recognizing a brand after seeing an advertisement. The average brand lift for SB ads is nearly 13%, making it a measurable goal for marketers. It’s all about branding - introducing a brand, reinforcing a brand, expanding its reach, and/or re-branding!
On top of ads, another highlight this year - live betting – more than $300 billion in legal bets have been placed since the 2018 Supreme Court ruling legalized it. About 26% of the U.S. adult population is expected to wager $23B+ (American Gaming Association survey), with high-profile sponsorships by online betting giant FanDuel and BetMGM.
Lastly – one well-kept secret relates to the half-time show artists and their payouts – well, no celebrity artists gets paid! Even though the halftime concert is one of the most-viewed TV broadcasts, the greats were never, ever paid for their highly coveted gigs! Of course, no need to feel bad for these halftime performers given the exposure, increased album sales and streams; Rihanna, based on her 2023 performance saw a 390% increase in song replays according to Forbes, as well as a 640% jump in Spotify streams. No different expected for Usher!
Overall, much more buzz, excitement and increased stakes this year – and the event is also likely to draw a lot more women this year – given the star pull of Taylor Swift, who even from the sidelines, has captured the entire stadium with her super power!
So Go Niners?? Yes, of course! May the best team win! 😀
Content Creator for TDAY Sports/Executive Producer at PSNTV
3moHuge stuff!