Speaking on Fox’s earnings conference call with analysts Wednesday, CEO Lachlan Murdoch said that “we’re confident pricing will certainly be the highest cost per 30 second spot of any Super Bowl.”
Prices for Super Bowl spots have been well in excess of $5 million in recent years.
Murdoch said sales are pacing “well ahead” of three year ago when Fox last had the Super Bowl and that all of the commercials in “A” positions are sold out. The “A” position is the first spot in a commercial pod.
Overall, Murdoch said the advertising market was strong, with scatter prices spiking as high as 25% over upfront pricing.
Categories that are spending money with Fox include the companies engaging in the streaming wars, tech companies, pharmaceutical marketers and financial services companies led by insurance companies such as GEICO, Progressive and State Farm.
He said that the market for entertainment and sports was stronger than for news. He said that prices were soft because of ratings weakness as Fox’s competitors and that those competitors were accepting pricing lower than Fox would be willing to agree to.