The Big Business of the “The Big Game”
Allegiant Stadium is where Super Bowl LVIII will take place, in Las Vegas, Nevada, U.S., January 24, 2024 – this Sunday at 6:30 PM Eastern / 3:30 PM Pacific - and as expected, it will be a big payday.
The NFL’s (National Football League) annual television revenue is estimated to be $11.46 billion. According to Nielsen data, among 2023’s 100 most-watched TV programs in the United States, 93 were NFL games, with the Super Bowl’s 115.1 million viewers topping the list.
Commercials:
Super Bowl commercials are known for their high production values and often serve as a highlight during the annual Super Bowl event. Advertisers showcase creative and entertaining commercials to captivate the massive audience. Companies invest heavily in these slots, and commercials can become cultural phenomena. Memorable ads often feature celebrities, humor, and sometimes address social or cultural issues. The Super Bowl has become a significant platform for advertisers to reach a wide and engaged audience.
All ads are sold out!
This year a 30-second Super Bowl commercial will cost a record-high average of?$7 million, according to Forbes. Last year the same slot during the Super Bowl was $6.5 million, which was an increase from $5.5 million the year before.?
Tickets:
Prices for the Feb. 11th game are the most expensive on record. Just getting inside Allegiant Stadium $8,000 for a single ticket, which is 35 percent more expensive than the $5,997 “get-in” price of the Super Bowl this time last year, according to data from TickPick, an online ticket marketplace.
According to various other sources, the actual current ticket range is between $9,500 to $35,000 with some reports of tickets going for as high as $70,000. Private Suites start at $540,000 and quickly go much higher.? Parking passes alone are going for $300-$800 and that is just to park one car.
Hotels:
Recently, we stayed at the Mandalay Bay Hotel in Las Vegas for regular?season Pittsburgh Steeler game.? The rates were not inexpensive but fairly reasonable and it was within easy walking distance of the stadium.? According to their website, however, this?weekend?a basic room (if you can get it) starts at $1,500 per night.?
Excess:
As the Wall Street Journal pointed out in this morning’s edition, “few places vacuum money from you like Las Vegas!”?? As previously mentioned, I have been to the Las Vegas Strip many times which is approximately a five-hour drive from Southern California – my preferred method of travel there because nothing bounces a plane like desert thermals. ?After about two days, most people will probably find the constant hand protruding waist high anticipating a tip completely exhausting. There are many, nevertheless, that love nonstop action, limitless live entertainment, and over-the-top experiences.? Once again, referencing today’s Wall Street Journal, who wouldn’t want a “$3,999 helicopter ride to the top of the Valley for morning yoga?”? Vegas can certainly accommodate.
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Humble Beginnings:
The very first Super Bowl was played at the Los Angeles Memorial Coliseum on January 15,1967, a 35-10 win for?the Green Bay Packers?over the Kansas City Chiefs. This game featured two of the best quarterbacks of the era with Bart Starr going up against Len Dawson.? Starr – who was NFL's league wide MVP that season - won his first of two consecutive Super Bowl Most Valuable Player awards. ?The average ticket to Super Bowl I was just $12. Perhaps even more surprising to today's NFL fans, the inaugural Super Bowl did not even sell out. From 1967 to 1970 the first four Super Bowls were played before the merger, with the NFL and AFL each winning two.
Bart Starr vs. Len Dawson and $12 Tickets!?
Who are you taking?
The Kansas City Chief's are currently 2.5 point underdogs. For whatever it's worth, I'd have a hard time betting against Patrick Mahomes. Thus, if I were placing a wager - which I'm not - those points look awful big.
Enjoy the game! Sunday is truly big business.?
For more about my wonderings through?Business,?Lifestyle, Health, Aging?& Travel?please see my blog:??JeffCorbett.com
Absolutely, the business aspect of Sunday's game highlights the intersection of sports and commerce like no other event! ???? As Peter Drucker famously said, "The best way to predict your future is to create it." Looking at the strategic moves both on and off the field can provide invaluable lessons in proactive planning and execution. ???