Media News

CBS scores record $545 million in Super Bowl ad revenue despite low ratings

FILE PHOTO: The ViacomCBS logo is displayed at the Nasdaq MarketSite to celebrate the company's merger, in New York, U.S., December 5, 2019. REUTERS/Brendan McDermid

(Reuters) - ViacomCBS’ CBS network generated a record $545 million in advertising spending during the NFL’s Super Bowl LV this past Sunday, according to preliminary estimates from research firm Kantar.

The game included a record 57 minutes of commercial time, and a 30-second ad was sold for an estimated average cost of $5.6 million, Kantar said Wednesday.

The high price and increase in commercial time helped CBS score record revenue even as the game, which saw the Tampa Bay Buccaneers prevail over the Kansas City Chiefs, got the lowest TV ratings in 15 years.

Advertisers flock to the Super Bowl because it is one of the last remaining annual events that attract millions of Americans to their TVs at the same time.

Auto companies continued to be the top category among Super Bowl advertisers, representing 14% of total spending during the game, followed by streaming services and alcoholic beverages, Kantar said.

Reporting by Sheila Dang; editing by Jonathan Oatis