The Super Bowl will not feature any crypto-related ads this year. Here’s why.
The Super Bowl, America’s largest sporting event, will not feature any cryptocurrency advertisements. FTX This is partially responsible.
Fox announced Monday that Super Bowl in-game ads had been sold. Per Associated Press Mark Evans, Fox Sports’ executive vice president for ad sales, stated that some ads sold for more than $7million for a 30-second spot. However, most were between $6 million to $7 million.
Super Bowl LVII will take place on Sunday, February 12, 2023. Every year, the event provides a huge platform for advertisers to show their shows to over 100 million people. 43% of people In 2021, you can tune in to see the commercials.
This is a big change from last year, when many crypto companies took to the stage, which led to the event being called ‘Crypto Bowl.’ However, 2023 won’t see any of them.
Evans was quoted saying that
“There is zero representation in this category on any given day.”
Evans stated that two of the crypto advertisers had their commercials “booked, done,” while Evans claimed two were “on-the one-yard line”. But, that was all ended with the collapse of FTX. These deals were not finalized.
Another notable result of the events in crypto was also observed. Evans said that while the majority of Super Bowl ads were sold earlier than usual and more than 90% had been sold by the end, the remaining spots sold less quickly. Prime positions were bought by established advertisers, while the rest were partly affected by the “implosion of crypto space” and general advertiser concerns about global economic conditions.
To go into more detail, Per Evans, Sports Business Journal, gave three reasons why Super Bowl ads sales were slower than previous years. These included spots that were left on the pre-kick show or spots for overtime that may never occur. The first is, of course, the collapse at FTX and other cryptocurrency companies. They had purchased several spots in advance, but have since backed away.
It stated that FTX had in fact committed to a 60 second spot.
According to the report, the other reasons were that advertisers pulled out due to supply chain problems that had an impact on some of their products and that certain companies were “jittery” about the economy.
According to reports, ads from major companies were featured at the Super Bowl last year, which included Coinbase, Crypto.com, eToroFTX, yes. Also, major beer brand Anheuser-Busch‘s Bud Light, which earlier this year had partnered with Nouns DAOThe Super Bowl commercial featured the “Noun glasses”, a non-fungible token project (NFT), that generates avatars based upon nouns.
The Verge: “Now, just because Fox Sports did not sell any crypto ads this past year does not mean that you won’t be able to see any if youre watching,” Not notedYou can also buy ads locally for a much lower price.
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