VIAC
Ad revenue for 'March Madness' set to hit record after year away
- Advertising revenue for "March Madness" - the annual NCAA men's
basketball tournament - has "virtually sold out," hitting record levels
just a week out from the start.
- That's a welcome rebound after last year's cancellation of the
tournament punched a hole in ad revenues.
- In 2019 ads brought a $910M windfall, but last year's tournament was
canceled due to the COVID-19 outbreak.
- Now CBS (VIAC+3.8%, VIACA+3.7%) and Turner Sports (T-0.4%) are in
"great shape going into Selection Sunday," says CBS' John Bogusz. The two
companies have "never billed as much" as they have this year, Turner's
Jon
Diament says.
- The two had sold out linear ad inventory in record time last year
before the tourney's cancellation.
- This year, more than 80% of the linear advertisers will also have a
digital ad presence. CBS and Turner have lined up more than 100
advertisers
combined, with 90% of last year's planned marketers returning for this
year.
- Top five ad categories for March Madness? Insurance, auto, financial,
telecom, and restaurants. "It feels like most of the categories that were
challenged during the pandemic, including movies … will be back
advertising," Diament says.
|Today, 1:03 PM|15 Comments
Ad revenue for 'March Madness' set to hit record after year away
- Advertising revenue for "March Madness" - the annual NCAA men's
basketball tournament - has "virtually sold out," hitting record levels
just a week out from the start.
- That's a welcome rebound after last year's cancellation of the
tournament punched a hole in ad revenues.
- In 2019 ads brought a $910M windfall, but last year's tournament was
canceled due to the COVID-19 outbreak.
- Now CBS (VIAC+3.8%, VIACA+3.7%) and Turner Sports (T-0.4%) are in
"great shape going into Selection Sunday," says CBS' John Bogusz. The two
companies have "never billed as much" as they have this year, Turner's
Jon
Diament says.
- The two had sold out linear ad inventory in record time last year
before the tourney's cancellation.
- This year, more than 80% of the linear advertisers will also have a
digital ad presence. CBS and Turner have lined up more than 100
advertisers
combined, with 90% of last year's planned marketers returning for this
year.
- Top five ad categories for March Madness? Insurance, auto, financial,
telecom, and restaurants. "It feels like most of the categories that were
challenged during the pandemic, including movies … will be back
advertising," Diament says.
|Today, 1:03 PM|15 Comments
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