Super Bowl LVIII to See Limited Crypto Advertisements; Shifts Focus to Fun, Entertainment
Summary:
Super Bowl LVIII will likely see fewer commercials from cryptocurrency exchanges, with many companies involved in the 2024 event not linked with fintech. This represents a shift away from previous years where crypto firms dominated ad spots. Commercials slated for 2024 will lean more towards 'fun and entertainment' themes and feature brands like BMW, Budweiser and Oreo. Despite the billions spent on crypto ads targeted at sports fans, many question if this spending is a profitable investment.
Super Bowl LVIII, featuring a face-off between the Kansas City Chiefs and the San Francisco 49ers, will purportedly have limited advertisements from cryptocurrency exchanges on February 11. A report from CNN on February 2 indicates that many companies planning commercials for the 2024 major sporting event aren't linked with fintech. Paul Hardart, a clinical marketing professor at the Stern School of Business at New York University, predicts the commercials for Super Bowl LVIII will exhibit a marked change of direction, focusing on amusement and fun rather than fintech or crypto firms.
Previous Super Bowl LVI in 2022 saw various crypto companies including FTX, eToro, Crypto.com and Coinbase premiere commercials. Notably, comedian Larry David in 2024 jokingly termed himself as "an idiot" for participating in the comedic FTX commercial that led to investor lawsuits following the crypto exchange's failure.
Super Bowl LVII in 2023, which occurred after some crypto firms had filed for bankruptcy and the market was in a slump, had no commercials referring to digital currencies. Commercials scheduled for 2024 are expected to include well-known brands such as BMW, Budweiser, State Farm, Oreo, DoorDash, and Hellman’s Mayonnaise. An estimated cost for a 30-second time slot is up to $7 million. The upcoming game is expected to captivate a vast audience especially given the attendance of Taylor Swift, popular singer-songwriter whose partner, Travis Kelce, is the Chiefs' tight end. She will fly straight to Las Vegas from Japan, where she has a concert about a day before the game's start.
Prominent prior crypto ads include Matt Damon’s October 2021 "Fortune Favors the Brave" commercial for Crypto.com and 2022 spots featuring sports celebrities Shaq and Naomi Osaka endorsing FTX. It's worth mentioning the billions expended in crypto marketing targeted at sports enthusiasts, but is it a worthy investment?
Published At
2/2/2024 10:36:31 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.