Fox Corporation has announced the sellout of advertising slots for Super Bowl 59, set to take place on February 9. The broadcaster has achieved record pricing for these coveted spots, with more than ten commercials fetching $8 million each. This marks a significant financial win for Fox Corp., as they prepare to host one of the most-watched events in the United States.
In 2023, the Super Bowl, broadcasted by Fox, attracted over 115 million viewers. Building on this success, Fox is taking a strategic step by offering the game for the first time on its free, ad-supported streaming service, Tubi. The decision to expand viewership platforms aligns with Fox's efforts to maximize audience reach and provide advertisers with broader exposure.
Much of the ad inventory for this year's Super Bowl was snapped up during Fox's Upfront presentation to investors last spring. As the available spots dwindled, advertisers witnessed a sharp increase in pricing. Traditionally, the price of Super Bowl ads can rise by about $100,000 as inventory decreases and game day approaches. However, this year saw an unprecedented surge, with prices jumping by approximately $500,000 per spot.
Fox CEO Lachlan Murdoch confirmed that the company has sold out of ad spots at record pricing. Advertisers are expected to get more value for their investment due to the high viewership anticipated. Last year, an estimated 123.7 million people watched the Super Bowl, indicating a robust potential audience for advertisers.
The Super Bowl will feature a diverse array of commercials from automakers, restaurants, and food and beverage companies. The Kansas City Chiefs will once again face off against the Philadelphia Eagles, adding to the excitement surrounding the event.
Mark Evans, executive vice president of ad sales for Fox Sports, noted the appeal of creative advertising during such a high-profile event.
"Multiple advertisers have fallen in love with the creative," – Mark Evans, executive vice president of ad sales for Fox Sports
Evans also highlighted the enduring allure of live sports events, which continue to draw families and groups together.
"If I learned anything, it's that we're in a period now where the live sporting event, where people and families come together to watch, is that much more coveted," – Mark Evans, executive vice president of ad sales for Fox Sports