The estimated $4 million price tag for a 30-second spot during Super Bowl XLVII may be too steep for General Motors (NYSE:GM), but plenty of other companies are paying up.
“Demand for the Super Bowl is very, very healthy,” CBS Chief Financial Officer Joseph Ianniello said Wednesday, during a Q&A at the Bank of America Merrill Lynch Global Telecom & Media Conference in London. “As we sit here today we’re over 50% sold out at prices that … are very impressive, higher than last year’s Super Bowl.”
GM may regret its decision to shun advertising during the Super Bowl because competitors like Ford (NYSE:F), Honda (NYSE:HMC), Toyota (NYSE:TM), Hyundai (PINK:HYMLF), Volkswagen (PINK:VLKAY) and others will likely be happy to garner the after-Bowl-buzz car ads usually create.
However, since GM pays about $200 million a year for its designation as an official NFL sponsor, the company won’t be completely absent from Super Bowl XLVII, ADWEEK says. Last year, about 115 million viewers watched as New York Giants quarterback Eli Manning was awarded the MVP trophy and a 2012 Chevrolet Corvette Grand Sports Convertible.