Fox in historic Super Bowl commercial windfall after making $8 million-plus despite NFL TV ratings drop
Fox is still making money for the Super Bowl even though NFL ratings are declining.
The big game’s commercial prices have significantly increased for the network.
For more than $8 million apiece, Fox has sold about a dozen 30-second advertisements.
Compared to previous Super Bowls, that is an increase from $7 million per unit.
Lachlan Murdoch, the CEO of Fox, stated in a November quarterly report that the network was “already sold out and at record pricing” for the Super Bowl.
However, a number of advertisers withdrew from the Super Bowl after that meeting.
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State Farm was among the sponsors who withdrew their advertisement following the wildfires in California.
“State Farm, State Farm agents, and our employees are all focused on helping customers impacted by the Southern California wildfires in the midst of this tragedy,” the business stated in a statement.
“State Farm has been providing insurance to over 8 million Californians for almost a century, more than any other insurer.
“We have the biggest claims force in the business, and we’re using the full scope and power of our disaster response teams to assist clients in their recovery, whether they’re in Los Angeles or elsewhere in the nation.
“We are pleased to announce that 90% of our customers are being contacted. We are returning tens of millions of dollars to our consumers after receiving over 7,400 house and auto claims.
“As residents return and evaluate the damage, these figures will keep rising. Supporting the residents of Los Angeles is our first priority.
“We will not be advertising during the game as originally planned.”
Although it may sound negative, Fox has profited from businesses boycotting the Super Bowl.
Advertisers from a waiting list have been drawn in by the network’s ability to resell the ad space at greater prices than it originally offered.
That Fox is making so much money from the Super Bowl is wonderful news.
There have been steady drops from the 2023 season to the 2024 season.
Viewership dropped throughout the NFC Championship, Wild Card Round, Divisional Round, and regular season.
The revenue is likely being driven by the fact that the Super Bowl remains the year’s greatest broadcast event.
Additionally, Fox is providing free Super Bowl streaming on Tubi, which may aid in advertising.
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On February 9, Super Bowl LIX will begin at the Caesar’s Superdome in New Orleans.
The 2023 Super Bowl will be rematched between the Kansas City Chiefs and the Philadelphia Eagles.