We find ourselves in the middle of March once again, which means millions of viewers will be tuning in as the NCAA tournament unfolds; hoping the outcome of each game matches their carefully researched bracket predictions. Much like analyzing media buying for the Super Bowl, even people who aren’t sports fans will get into the March Madness, driving viewers and advertising potential skyward. Last year, $738.0 million was spent on advertisements during the tournament, rising over 20% from the previous year’s $613.8 million.
Advertising costs increase sharply as the tournament progresses. In 2011, advertisers who wanted to feature their ads during the championship game had to shell out an average of $1.2 million for every 30 seconds of air time! This is more than double what the ads ran for in 2001. The number also exceeds that seen in professional sporting events like the NBA Championship and the MLB World Series. Prices for this year’s championship game may even reach $1.5 million. First round games are in the $90,000 range and the Elite Eight games on CBS are around $700,000.
Compared to Media Buying costs for The Academy Awards, advertisers may not be getting the bang for the buck they’re looking for. $1.7 million at The Oscars gets your ad in front of close to 40 million people, while the $1.5 million at the NCAA Tournament Finals gets roughly half that viewership.
Our media buying agency has experience buying ad time during large scale sports events including the Super Bowl. We are dedicated to providing high return media buying services to all our clients including Priceline.com and Overstock.com. Learn more about Ocean Media today!