In the upcoming Super Bowl LVIII, commercials will be more traditional, with no cryptocurrency or artificial intelligence advertisement. This event will have the Kansas City Chiefs compete with the San Francisco 49ers and, as a result, slated to draw millions of viewers on February 11. However, the ads are expected to be more in the way of amusement and comedy instead of the tech-focused ads that have dominated the recent years apart from 2023.

Companies such as BMW, Budweiser, State Farm, Oreo, DoorDash, and Hellman’s Mayonnaise have also booked slots for the big game to revert to the traditional Super Bowl ad themes that appeal to a wider base of viewers.

This development follows several years characterized by occasional dots dotting the Super Bowl commercial breaks with adverts from emerging technology sectors, especially cryptocurrency and artificial intelligence platforms.

Cost of Super Bowl Fame

The cost for a 30-second ad in the Super Bowl has skyrocketed, with estimates pointing out that companies may have to spend up to $7 million for their spot under the limelight.

This heavy investment has not stopped traditional consumer brands from reserving their slot in one of the most-watched programs on American television. Nevertheless, it has impacted the contemporary decision-making of newer tech-oriented firms, especially in the unstable cryptocurrency market.

The Crypto Commercial Backlash

This year’s lineup without cryptocurrency ads is particularly noticeable as this sector has a pretty high representation in the previous Super Bowls. The attention given by big-budget ads from companies such as FTX, eToro, Crypto.com, and Coinbase was a milestone for the crypto sector, which showed that it is ready to take the stage in the mainstream arena.

However, the landscape has changed significantly after the chaotic events in the crypto world during the previous year, including FTX’s crash.

The aftermath of these incidents has not only decreased investor confidence but has also made advertisers more careful. Despite the potential implications, brands are reluctant to promote crypto-based messages during high-profile advertising events like the Super Bowl, which also speaks of the industry’s current uncertainty.

Entertainment Over Innovation

The shift from tech-heavy ads has led to 2024 Super Bowl commercials embracing funny, entertaining, and fun-centered themes. This strategy is supported by the opinions of Paul Hardart, a clinical professor of marketing at New York University’s Stern School of Business, who states that advertisers might be interested in offering some break from the more serious and complicated subjects of the past few years.

The attraction of huge audiences, in part due to the presence of A-list celebrities such as Taylor Swift, is an additional overlay for advertisers who want to get hold of viewers’ attention through entertaining and appealing programming by using light-hearted and friendly content instead of more specialized appeals, which tech innovations would provide.

Read Also: AI Could Influence Two-Thirds of Jobs in Future, Keeping Markets Bullish

The post Crypto and AI Ads Omitted from Super Bowl LVIII Commercial Slots appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am