- A Fox Sports executive says the network has sold out of ads for Super Bowl months ahead of the event.
- It marks the first time in five years Fox has booked all of its ad sales this early, according to Variety.
- Some advertisers are paying a record $US5.6 million for 30-second slots.
- It’s the latest bit of good news for Fox Corp., whose stock has rallied 18% since hitting its 2019 low in early October.
- Watch Fox trade live on Markets Insider.
Fox Sports has already sold out advertising space for the upcoming Super Bowl. It marks the first time in five years the network has booked all of its sales this early, according to Variety.
Seth Winter, the executive vice president for sports sales at Fox Sports, said the network had sold all 77 spots for the event. Some advertisers dished out a record $US5.6 million for 30 seconds of air time, with every ad selling for more than $US5 million, Winter added.
Ads for last year’s Super Bowl reached as much as $US5.3 million for thirty-second spots, according to the Wall Street Journal.
“Clearly the NFL is still the most powerful media platform in all of sports and all of television,” Winter said. “Advertisers have seen the restoration of healthy ratings and an environment that doesn’t create caution on their part, so they have dived headfirst into the NFL.”
Discounts were offered to advertisers that bought more than one thirty-second commercial, according to Bloomberg.
The high demand for Super Bowl ads also comes as NFL games continue to be some of the highest-rated programs to air on network TV, according to a recent Fitch Ratings study.
“The rebound in National Football League (NFL) audience numbers that began in 2018 and continues into 2019 reinforces the value of the franchise to broadcasters,” Fitch wrote in a report on Monday.
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