Sportsbooks increase ad spend during football season
Unsurprisingly, US sports betting operators have increased their advertising spend during the ongoing 2023 football season.
According to EDO Ad EnGage estimates, Sports Betting Ad Spend on TV grew 10% from September 1 to December 26, to $237.8 million. The research firm did not indicate whether the increase in TV ad spending by sportsbooks is due to increased spending by new entrants such as ESPN Bet and Fanatics, increased spending by existing players such as DraftKings and FanDuel, or a combination of the two.
Sports betting impressions increased 52% to 20.7 billion from 13.6 billion a year ago, primarily due to the number of rebroadcasts more than doubling (to 59.81) from 26,950 the year before," Wayne Friedman reports for Media Post.
The increase in TV ad spending by gaming companies from September 1 to December 26 makes sense as football is the most wagered sport in the United States and some operators are looking to promote new products such as in-game betting and same-field betting Win Streak (SGP) ).
Changes in Advertising Spend by Sports Betting Providers
While linear television broadcasts of sporting events and dedicated sports channels like ESPN have provided predictable avenues for promoting sports betting, this is changing.
For example, Amazon Prime's streaming show Thursday Night Football brought in an estimated $41 million in ad revenue for sportsbooks, up from $27.9 million last year. The increase in spending comes as fans harshly criticized the quality of the "Thursday Night Football" live product.
Sportsbooks are also increasingly advertising on non-sports-related networks, expanding on a theme that had developed earlier this year.
“Sports betting TV advertising also increased significantly on non-sports TV networks, including TBS (3,270 plays); FXX (3,010); truTV (3,130); Discovery Lifestyle Channel (2,160); and American Heroes Channel (4,960), among others etc.,” Friedman noted.
Other winners and losers in sports betting ad spend
Sportsbooks spent less on ESPN between September 1 and December 26 than during the same period last year. But that could be because ABC also airs "Monday Night Football" as well as some high-profile college football games. The Walt Disney Company owns both networks.
Fox and NBC, which airs "Sunday Night Football," have also seen a decline in ad spending at sportsbooks over the past four months. CBS, on the other hand, has shown resilience in this regard, perhaps with a little help from SEC football.
"CBS appears to be the stronger network in the category this year, with $31.9 million in Sunday afternoon NFL programming, ranking second in the category behind Prime Video. "CBS' revenue vs. year-on-year revenue The previous $31.5 million was almost flat," Friedman concluded.
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Source: www.casino.org
