Evans described the subsequent months of selling units as “one in, one out or two in, one out,” as advertisers across categories tightened media budgets due to economic headwinds. Overall, he said Fox’s previously announced 95% sellout dropped to the high 80% range in the fall, accounting for about 11 remaining units.
During that time, Evans said economic conditions did not impact the pricing of Super Bowl inventory, which Ad Age previously reported surpassed $7 million in some instances. The executive said a portion of the remaining units were priced at lower rates negotiated with major holding companies during last year’s upfront, which Fox extended the deadline on, but “we were able to regain that premium for the last couple of units.”
“While the Super Bowl marketplace definitely slowed, the difference was we were in regular communication with multiple clients who would say, ‘I want to buy the game, I’m expecting to buy the game, I’m going to buy the game, but I need to see next month’s inflation report,’” said Evans. “We were in this regular cadence with multiple marketers who were giving us the wink and the nod that they were going to be there, but just can’t get their CFO or CEO to officially sign off until these economic headwinds calm a little bit at least.”
One agency buyer painted a grimmer picture of the past four months, noting that some clients “did have to work to claw back some previously committed spend” to accommodate Fox’s price tag.
“Also, many advertisers that would look at a Super Bowl commitment closer to airdate decided that it was too large an investment to make,” said the buyer. “When those two factors are taken together, it left Fox with a handful of spots that took longer than anticipated to cover.”
In 2022, NBCUniversal announced it was sold out of the Feb. 13 Super Bowl on Feb. 3.
from Digital Marketing Education https://ift.tt/Ew8neDU
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