The Dallas Morning News
Crypto ads fizzle out for Super Bowl LVII
FTX collapse doomed deals; Anheuser-busch remains top advertiser
NEW YORK — The hottest ticket in town for advertisers is officially sold out. Fox said Monday that in-game ads for Super Bowl LVII have all been sold.
The big game between the Kansas City Chiefs and the Philadelphia Eagles takes place on Sunday.
The Super Bowl is advertising’s biggest stage, with advertisers jockeying to get their products in front of the more than 100 million people that watch each year. Mark Evans, executive vice president of ad sales for Fox Sports, said a few ads went for more than $7 million for a 30-second spot. Most sold between $6 million and $7 million.
Anheuser-busch remains the biggest advertiser with three minutes of national airtime. The beverage giant gave up its deal to be the exclusive alcohol advertiser this year, so Heineken, Diageo, Remy Martin and Molson Coors are also in the game. Other big categories advertising include packaged food like Doritos and M&MS, movie studios and streaming services, automakers, and tech companies, Evans said. Out this year: crypto companies.
Last year’s Super Bowl was dubbed the “Crypto Bowl” because four cryptocurrency companies — FTX, Coinbase, Crypto.com and etoro — ran splashy commercials. It was part of a larger effort by crypto companies to break into the mainstream with sports sponsorships. But in November, FTX filed for bankruptcy and its founder was charged in a scheme to defraud investors.
This year, two crypto advertisers had commercials “booked and done” and two others were “on the 1-yard line,” Evans said. But once FTX news broke, those deals collapsed.
“There’s zero representation in that category on the day at all,” he said.
Evans said most Super Bowl ads sold much earlier than usual, with over 90% of its Super Bowl ad inventory gone by the end of the summer, as established advertisers jockeyed for prime positions. But the remaining spots sold more slowly.