FTX will be advertising for the first time at Super Bowl LVI. Objective? Reach mainstream soccer fans.
FTX buys Super Bowl ads to promote cryptocurrencies to 92 million TV viewers.
The FTX cryptocurrency exchange has secured itself an advertising spot at one of the most watched events in America - the National Football League championship match, which will take place in February 2022.
According to the Bloomberg report, FTX bought an advertisement at this year's Super Bowl LVI, motivated by the wide reach of this type of promotion.
The Super Bowl is consistently a highly watched sporting event and television program, and is 28 of the 30 highest-rated programs in US television history.
Bankman-Fried himself, the founder and CEO of the FTX exchange, has made football one of the priorities in a marketing strategy that focuses on sports as the fastest growing customer base that may be looking to buy cryptocurrencies. He said:
"There is no bigger, more popular event that can share a message like this than the Super Bowl."
While the content of the ad, or how much FTX paid for it, has not been released, the current price of an NBC ad for next year's Super Bowl is $ 6.5 million. The price of a 30-second ad at an event in 2021 was $ 5.5 million.
The previous event attracted an average TV audience of approximately 92 million viewers.
This year's Super Bowl in February saw a change in advertisers as brands like Hyundai, Pepsi, Coke and Budweiser dropped out, leaving room for newer players who thrived during the pandemic and became new advertisers for Super Bowl LV.
Some of these include fast casual and delivery services (Chipotle, DoorDash), e-commerce (Vroom), job seeker services (Indeed, Fiverr), and even home builder brands (Scotts Miracle-Gro, Hellmann's). Since cryptocurrencies can boast a huge increase in interest, exchanges from this market will join advertisers.
In June, FTX secured a long-term partnership with seven-time Super Bowl champion Tom Brady and Brazilian supermodel Gisele Bündchen that included company shares and cryptocurrency payments in exchange for their services, including TV advertising.
FTX also became the official sponsor of Major League Baseball in June, and in March, the partnership renamed the Miami stadium the Heat FTX Arena for the next 19 years.
