The Cost of a Consumer's Attention
Image Source: WLWT Cincinnati
By: Michael Argenta
February 6, 2022
Doritos. Old Spice. Apple. Google. Nike. And more. On February 13, 2022, the stage is set for marketing teams to bring their best to 100 million+ viewers. Super Bowl LVI, between the Los Angeles Rams and Cincinnati Bengals, will have a vast impact on business. Besides near record-high ticket prices, the millions watching at home will be influenced by expensive advertisements. Let’s take a look at just how much a Super Bowl commercial will cost this year.
This year, NBCUniversal owns the broadcasting rights to Super Bowl 56. Therefore, NBCUniversal is entitled to hundreds of millions of dollars in advertising revenue. Between NBC, Telemundo, and Peacock streaming, the broadcast giant has sold out of TV spots. However, these are not your average commercials. They are 30-60 second ads going for $7 million or more. At $7 million, this Super Bowl has broken the record for the most expensive commercial in history. As 2015's Super Bowl XLIX attracted the most viewers ever, advertisers hope 2022’s game will break this record as well.
You may be asking, is $7 million worth it? The answer is yes. While many people despise commercials, most enjoy Super Bowl ads because they are a part of the game. Each year, marketing professionals come up with new ideas and outstanding production. Super Bowl viewers often discuss the best commercials meaning they were memorable and worth it. Although seeing a monkey holding a Kickstart will not persuade everyone to buy it, it does generate sales and, more importantly, product awareness.
Overall, Super Bowl LVI will likely go down as one of the most lucrative in history. Whether it's fans going to the game or companies advertising, this single event will generate insane revenue. In 2022, a consumer's attention is worth $7 million for 30 seconds. Sports is a business, and it contributes to other businesses through ads. So, enjoy the Super Bowl, but don’t fall into any traps.