March Madness scores big with advertisers
Who’s on Top? – March 12-18, 2018
NCAA March Madness kicked off on March 13th, and with it came increased ad revenues for networks. From March 12-18, overall national TV advertising expenditures increased by 66 percent compared to the previous week, while spend specifically for new ads almost doubled to reach a total of $320 million. The NCAA basketball tournament was largely responsible for the incremental spend, with brands spending an estimated $110 million on airing new ads during the games, accounting for 34 percent of all new ad spend.
State Farm used 40 percent of its new ad budget this week to debut the latest in a series of ads featuring NBA players Chris Paul and James harden, along with actor Oscar Nunez. The commercial sticks with the company’s theme of “Get an agent that gets you,” and features Nunez as State Farm agent Cole Perez who knows Chris Paul so well he can finish his sentences and read his mind, just like his teammates can.
Keeping March Madness in mind, the ad has been placed almost exclusively during NCAA games. So far it has run nationally 43 times, with two occurrences during NBA basketball and the remainder during college games.
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