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Super Bowl Ad Prices Top $8 Million as Surge Fuels Fox Sales
Fox has been able to sell some Super Bowl commercials for more than $8 million due to a surge of intense interest in sports programming
Fox Corp. sold at least 10 of the commercials that will appear in its Feb. 9 telecast of the NFL championship between the Kansas City Chiefs and the Philadelphia Eagles for more than $8 million, according to two people familiar with the matter, a new record price for Super Bowl inventory that shows how much more important the event has become to Madison Avenue in the streaming era. By the end of last decade, the Super Bowl had hit a more fallow period where advertisers gained the upper hand, and the process of selling out all the ad inventory sometimes took until just days before kickoff. Indeed, the recent California wildfires prompted a group of sponsors — including State Farm Insurance — to ask to be released from their deals, according to the person familiar with the matter, and Fox was able to re-sell their time for higher prices thanks to intense interest.
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