American broadcaster Fox has completely sold out its Super Bowl LVII advertising but there are no crypto companies featured despite them dominating the space 12 months ago.
Last year’s advertising breaks were dubbed ‘Crypto Bowl’ with FTX, Coinbase, Crypto.com and eToro all running prime time ads during the pinnacle of American football and what is seen as advertising’s biggest stage.
But a tricky 2022 and start of 2023 has seen a downturn for the crypto industry with many casualties and those remaining being more cautious when it comes to spending.
The crypto industry as a whole has seen around 2,900 jobs go between 14 companies this January alone as many look to cut costs in a bid to stay afloat.
Fox Sports executive vice president of ad sales Mark Evans said two crypto advertisers had commercials “booked and done” and two others were “on the one-yard line”. But once news of FTX filing for bankruptcy broke, those deals were not completed. “There's zero representation in that category on the day at all”, Evans added.
Crypto’s loss is alcohol’s gain with Anheuser-Busch remaining the biggest advertiser with three minutes of national airtime. The beverage giant gave up its exclusive advertising deal which has allowed Heineken, Diageo, Remy Martin and Molson Coors to participate in the action.
The big game between the Kansas City Chiefs and the Philadelphia Eagles takes place on Sunday.
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