New Report Details Large Increase in US Sports Betting Ad Spend
LISTEN TO THIS ARTICLE:Since the 2018 overturning of PASPA, sports betting has become available in roughly 40 US states. This rapid growth of the industry has seen the emergence of a competitive market driven by an ever-increasing number of participants.
Operators are continually actively seeking new customers, offering a variety of promotions and sports-related services. These include not only live streaming but also timely updates on news, scores, odds, and more.
Increased Spending in TV Advertising
A major part of attracting new customers is effective advertising and a recent shift in advertising strategies has been highlighted by a new report compile by MediaPost. Referencing data from EDO Ad EnGage, the report points out a huge increase in TV betting advertising expenditures.
- Related:
$220 billion in bets since the US sports betting legalization
Between the start of the football season on September 1, 2023, and December 26, 2023, the spending rose by 10% to $237.8 million. The focus was primarily on sports-focused TV programs.
Sports gambling impressions were up 52% to a total of 20.7 billion – up from 13.6 billion a year ago, primarily due to airings more than doubling (to 59,81) versus 26,950 airings the year before.
Diverse Advertising Strategies and Decline in Certain Networks
While sports-focused channels have seen significant advertising increases, non-sports TV channels have also experienced a surge. American Heroes Channel and Discovery Life Channel, have aired 4,960 and 2,160 adverts, respectively. Similarly, truTV aired 3,310 adverts and TBS aired 3,270.
However, the scenario is not uniform across all networks. Fox, NBC, and ESPN have all witnessed a reduction in sports gambling advertising during the same period. It is estimated that $24.4 million was spent on online sports gambling ads for the NFL in 2022 and just $10.7 million this year. It was a similar story at NBC with the spending dropping from $20.2 million to $12.4 million.
ESPN also saw a decrease in sports gambling TV advertising with spending falling from $10.2 million to $6.22 million. However, this may be due to more games being shown on ABC, ESPN’s sister network.
More Business News
RELATED TOPICS: Business
Latest News
Most Read
Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for New Report Details Large Increase in US Sports Betting Ad Spend