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2024 Super Bowl ads sell out for CBS: How much does a 30-second commercial cost on TV?

We are exploring the company’s expense for the National Football League’s Super Bowl ads during the following CBS’s SBLVIII broadcast coverage.

This illustration photo shows the logos of the Cincinnati Bengals and the Los Angeles Rams on a phone in front of the Gillette, Lays, Budweiser and BMW logos displayed on a screen, in Washington, DC, February 9, 2022. - Big brands that have in some cases sat out for years the TV advertising frenzy around the biggest US sporting event -- the Super Bowl -- are returning Sunday and spending big amid record ad prices.
It's been a bumpy couple years marked by pandemic-era restraint and political polarization, but the American football championship offers an increasingly unequalled viewership too big to pass up. (Photo by Olivier DOULIERY / AFP)

The Super Bowl is the biggest event in American football, with SBLVIII set to be one of the most-watched sports games 2024. The best two NFL teams compete for the title of Super Bowl champions. Advertising during the game is costly, costing millions per slot. Here’s what you need to know about Super Bowl LVIII.

Paramount Global is experiencing high demand for advertising slots in its upcoming broadcast of Super Bowl LVIII in 2024. CBS reportedly seeks $6.5 million or slightly more for a 30-second spot. However, buyers estimate that CBS could have sold at least 95% of its available inventory and potentially more already.

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Sports continue to attract large simultaneous crowds that advertisers crave, making sports broadcasts among the few types of programming to generate more ad commitments than last year. In comparison, most other types of content have seen upfront obligations decline.

Fox, which aired Super Bowl LVII earlier this year, saw a similar rush for inventory in the 2022 upfront market. However, as concerns about a recession heightened, Fox’s ad-sales executives scrambled to unload the remaining stock.

In March, Fox Corp. announced that it had secured approximately $600 million in gross advertising revenue for its broadcast of Super Bowl LVII, a record for the company.

How much does a 30-second commercial cost?

Multiple sources have reported that the average cost of a 30-second ad for the 2024 Super Bowl will be $7 million. This is the same as the cost of the 2023 Super Bowl ad and slightly higher than the cost of a 30-second ad in 2022, which was $6.5 million.

The last Super Bowl game was watched by 113 million people, meaning a company can gain a lot from running an ad during such a popular event. In the coming years, the cost of Super Bowl ads is expected to increase, especially with the growing popularity of social media and the potential for an ad to go viral.