Cost of Super Bowl Commercials 2024: How Much These 3 Top Companies Are Spending
The Super Bowl on February 11 just can’t arrive soon enough. Highly anticipated, the game is not the only thing the Super Bowl provides; it’s also the advertisements. Advertisers continue to invest heavily for their short, yet costly, spots. This year is no different.
And if the ad left a mark on the minds of the millions who viewed it, it would all have been worth it. Here, in this article, are some companies setting ads and how much they spent.
Cost of Super Bowl Ads in 2024
The Super Bowl is undoubtedly a goldmine opportunity for brands to engage with a massive audience. With more than 115 million viewers anticipated to watch this game, it’s of paramount importance for many brands. In 2023, the cost of a 30-second Super Bowl ad reached uncharted territories of $7 million, quite a step up from 2022’s $6.5 million.
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Super Bowl LVIII looks up at the towering ad commitments despite a stumble in upfront obligation for differing content types. The 2024 Super Bowl’s average 30-second cost was $7 million, consistent with 2023, and a step higher than 2022 at $6.5 million. Over the years as cost surged, it peaked at $600 million for Fox in 2023.
Advertising during the event remains a treasure trove. The upward trend in Super Bowl ad costs since the 1960s, which charged $37,000 for 30 seconds, is expected to continue. That is thanks to the rising influence of social media and viral ad potential.
Top 3 Companies Showing Commercials on the Super Bowl 2024
Whether one’s watching for the Chiefs or the 49ers clash this year, the commercials remain a crowd-pleaser. Plus, with a third of Americans tuning in, advertisers went all out on slots costing millions.
Past data shows that food and beverage ads strike a chord, driving demand. Here are three top companies spending big in this year’s Super Bowl that investors may want to pay attention to.
Paramount Plus
Miami Dolphins quarterback Tua Tagovailoa, Patrick Stewart, Drew Barrymore, Arnold from “Hey Arnold” and Peppa Pig graced the screen together through Paramount in the recent Super Bowl ad. The characters are stuck on a glacier with no means to throw a rope for rescue. Tagovailoa proposes throwing a football to which Patrick Stewart looks at Arnold’s football-shaped head. With no hesitation, he suggests, “We throw the child.”
Stewart’s companions are skeptical, and he reveals an old-fashioned football gear under his coat. Creed’s “Higher” plays as he throws Arnold, who hits a wall due to the throw’s lack of height. Stewart wishes for a “pig skin,” and everyone looks at Peppa Pig. The commercial ran just under two minutes, despite cost considerations.
Oreos
Oreos is set to return to the Super Bowl for the first time in over a decade, featuring a 30-second ad on February 11’s big game. The 30-second spot developed by the Martin Agency, remains under wraps, with director Dave Laden leading the production. Michelle Deignan, Vice President of Oreo’s U.S. business, announced the beloved cookie’s return to the Super Bowl with an ad. It hopes to mark the beginning of an eventful 2024.
Oreo’s debut in 2013, the “Whisper Fight” ad, featured a library brawl over the cookie or cream reference. The 2024 Super Bowl ad features Kris Jenner in a red power blazer, referencing “Keeping Up With the Kardashians.” She’s making a crucial decision, as well as determining historical decisions, by twisting an Oreo.
BetMGM
BetMGM is the first sports betting app to confirm advertising plans for the Super Bowl. It chose Chicago-based agency Highdive as its creative agency of record. Known for securing multiple USA Today Ad Meter wins, including Rocket Mortgage’s ad with Anna Kendrick, Highdive will craft BetMGM’s debut commercial.
BetMGM’s early debut commercial stars Vince Vaughn, Wayne Gretzky and a comedic twist on “Tim Birdie, seven-time pool champion,” broke TV premiere traditions. The commercial also features sports icon Tom Brady.
The Big Game’s relocation to Las Vegas and the buzz surrounding the NFL industry raised expectations for creative commercials from major sportsbooks in 2024. BetMGM then delivers with an attention-grabber to set the tone.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.
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