While the TV advertising market is experiencing a slump, the sports advertising sector seems to be thriving.
Through sports media, companies can provide access to a dedicated and
hardcore fandom, helping boost their bottom line when the rest of the
market is struggling.
- During the Super
Bowl broadcast on Fox last month, 30-second ads sold for more than $7M,
and the network expected a record ad revenue haul.
- Additionally,
the NCAA March Madness men's basketball tournament is estimated to
generate $1.2B in ad revenue for broadcast partners Warner Bros.
Discovery and Paramount this year, an 8% increase from the previous
year.
- An 8% gain is considered remarkable given the current market, where many companies have flat or declining projections.
