The pop culture moment: In the world of content-on-demand and countless emerging ad channels, it’s easy to forget the power of showing an audience of millions the same ad at the same time. Super Bowl ads regularly dominate popular discourse, and are filled with brands trying to stake a new claim in the public consciousness.
- Last year’s Super Bowl was flush with ads from cryptocurrency exchanges as well as the first slew of major metaverse advertisements. The heavy spending prompted comparisons to the 2000 “dot-com” Super Bowl that proved true—FTX collapsed in 2022, bringing the value of Coinbase and others down with it. Meanwhile, Meta has had to sideline its metaverse projects to focus on rejuvenating its ad business.
- Crypto’s high-profile failures haven’t deterred new brands from trying to make an imprint on the Big Game. Apple Music is sponsoring the halftime show, replacing longtime sponsor Pepsi in a reported $50 million deal. Avocados From Mexico will be directing fans to a site that uses ChatGPT. Sports-betting companies like DraftKings will also advertise.
- If last year’s Super Bowl ad spending was defined by the crypto world, this year it’s the alcohol industry’s turn. Budweiser gave up its position as the exclusive alcohol advertiser of the event, allowing brands like Heineken, Miller, and others to swoop in.
Our take: The Super Bowl will likely set yet another early record for viewership and serves as a reminder that similar appointment television events are becoming increasingly rare.
- Other major broadcast events like The Academy Awards have steadily lost viewers year after year. The Golden Globes continued its years-long decline in January with the lowest viewership the event has seen since 1996—but last weekend’s Grammys managed to reverse its misfortunes with viewership climbing 30% year over year.