The Super Bowl LVII is the finale of the 2022 NFL season. The championship game will be played on February 12th, 2023, at State Farm Stadium in Glendale, Arizona. This is not the first time the Super Bowl will contested at the State Farm Stadium and the venue previously hosted the Super Bowl in 2015. So, everyone involved in organizing the event at the stadium will know what it is all about and the sports industry as a whole is gearing up for Super Bowl LVII.
Super Bowl Revenue
There is no getting away from the fact that while fans are interested in the action on the field, the Super Bowl is a massive money maker for many industries. If we go back to Super Bowl LVI, it is estimated ticket sales alone generated over $70 million. That, in turn, also increased the stakes of Super Bowl betting.
Fox, CBS, and NBC hold the rights to televise NFL games throughout the season but the Super Bowl is rotated each year. Super Bowl LVII will be screened live by Fox and the 11-year media rights deal signed by the NFL and the media outlets is worth a staggering $110 billion. In terms of food and drink, it is estimated the average fan who is watching the game at home will spend roughly $80 on food, drinks, and other items to enjoy the event.
It is estimated CBS, who screened Super Bowl LV took $545 million in advertising revenue. Any company that wanted to advertise during stoppages in play had to pay $5.6 million for a 30-second slot. In 2022, NBC hosted coverage of the Super Bowl and they took $6.5 million for a 30-second advertising spot, with some going for close to $7 million.
Food and Merchandise at the Stadium
The 2022 Super Bowl set a record for the average spend per fan inside the stadium. This is a different figure to the $80 average for fans watching the game at home. The average spend for a fan at the SoFi Stadium during Super Bowl LVI was $167.37. This figure covers concessions, premium dining, and merchandise sales at the venue. This was a 14% increase on the previous record, which was set in 2016, and shows how revenue at the Super Bowl continues to rise. New and faster ways to pay was one of the reasons why a new record was set in 2022. There is expected to be between 60,000 and 70,000 fans at Super Bowl LVII, so we could see a new revenue record set for food and merchandise at the stadium.
Millions of fans like to have a wager during the football season and more people choose to bet on the Super Bowl. There are some people who will only bet on one event during the year and that event is the Super Bowl, so this increases the betting activity when compared with the regular NFL season. It is estimated that in 2021, over $4.3 billion was bet on the Super Bowl and since then, more states have opened their doors to legal online sportsbooks. For the 2022 Super Bowl, Nevada reported a record US$179.8 million in bets and this is likely to increase for Super Bowl LVII. For those who choose to bet on the Super Bowl, you do not have to spend a lot of money. There are many excellent betting sites with minimum deposits and even when making a small deposit of just $10, you can still claim a bonus that could be used on the Super Bowl or another sporting event.
The Super Bowl is one of the biggest money makers in the world of sport. It is a huge day for many industries in the United States, with an increase in the sale of food, drink, merchandise, and betting.