Super Bowl LVII won't have ANY crypto ads following FTX's collapse
Super Bowl LVII won’t have ANY crypto ads following FTX’s collapse after four firms flooded the 2022 broadcast with spots featuring Tom Brady, Larry David and other celebrities
- Super Bowl LVII will not feature any crypto currency ads, Fox has revealed
- Super Bowl LVI had spots from four different crypto firms before FTX’s collapse
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Super Bowl LVII will not feature a single crypto currency advertisement, Fox revealed Monday while announcing that that it has sold out of in-game ad space for the Chiefs-Eagles matchup.
A year ago, in what was dubbed the ‘Crypto Bowl,’ FTX, Coinbase, Crypto.com and eToro released a torrent of spots featuring Larry David, Tom Brady, and LeBron James in an effort to break into the mainstream.
But in November, FTX filed for bankruptcy and its founder, Sam Bankman-Fried, was charged in a scheme to defraud investors. Even Brady, whose FTX portfolio is now valueless, has been named in a class-action lawsuit over the company’s bankruptcy.
This year, things are dramatically different. Two crypto advertisers had commercials ‘booked and done’ and two others were ‘on the one-yard line,’ said Mark Evans, executive vice president of ad sales for Fox Sports.
But once FTX news broke, those deals weren’t completed: ‘There’s zero representation in that category on the day at all.
A year ago, in what was dubbed the ‘Crypto Bowl,’ FTX, Coinbase, Crypto.com and eToro released a torrent of spots featuring Larry David (right), Tom Brady (left), and LeBron James in an effort to break into the mainstream. But in November, FTX filed for bankruptcy and its founder, Sam Bankman-Fried, was charged in a scheme to defraud investors. Even Brady, whose FTX portfolio is now valueless, has been named in a class-action lawsuit over the company’s bankruptcy
The Super Bowl is advertising’s biggest stage, with advertisers jockeying to get their products in front of the more than 100 million people that watch each year.
Evans said a few ads went for more than $7 million for a 30-second spot. Most sold between $6 million and $7 million.
Anheuser-Busch remains the biggest advertiser with three minutes of national airtime. The beverage giant gave up its deal to be the exclusive alcohol advertiser this year, so Heineken, Diageo, Remy Martin and Molson Coors are also in the game.
Other big categories advertising include packaged food like Doritos and M&Ms, movie studios and streaming services, automakers and tech companies, Evans said. Out this year: crypto companies.
Evans said most Super Bowl ads sold much earlier than usual, with more than 90 percent of its Super Bowl ad inventory gone by the end of the summer, as established advertisers jockeyed for prime positions. But the remaining spots sold slower. Partly that was due to the implosion of the crypto space, as well as general advertiser concerns about the global economy, Evans said.
Last year, NBC sold out of its ad space briskly and said an undisclosed number of 30-second spots went for $7 million, a jump from the $6.5 million that 2021’s ads went for.
LeBron James and his younger self appear during an ad for Crypto.com
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