Move over crypto, booze ads are flooding the Super Bowl

Move over crypto. Booze is back.

For the first time in more than three decades, Super Bowl viewers will see ads from alcohol brands other than Anheuser-Busch InBev SA. In June, the Budweiser brewer gave up its rights as the exclusive alcohol brand in the big game, giving other beer and liquor makers a turn in the spotlight.

“We’ve been waiting over 30 years for this moment,” said Sofia Colucci, global vice president of marketing for the Miller brands at Molson Coors Beverage Co. “It took us less than 30 seconds to decide that we wanted to buy an ad.”

Heineken, Rémy Martin cognac and Crown Royal whiskey will also air ads during Sunday’s game between the Philadelphia Eagles and Kansas City Chiefs on the Fox network.

The flood of alcohol commercials will help fill the void left by cryptocurrency companies. Last year, there were so many spots from the much-hyped sector that it was nicknamed the Crypto Bowl. Larry David, for example, starred in an ad for FTX that said: “Don’t be like Larry. Don’t miss out on the next big thing.”

But after crypto crashed last year, FTX and its peers abandoned plans to return to the big game, according to Mark Evans, head of ad sales at Fox Sports. FTX collapsed in November and its founder, Sam Bankman-Fried, has been charged with fraud.

Despite concerns about a potential recession, advertisers were still willing to pay top dollar to be in the biggest TV event of the year. The 2022 Super Bowl drew 112.3 million viewers on NBC’s platforms.

Fox Corp. has sold out in-game Super Bowl commercials but is still selling spots for pregame and overtime, if there is one, Evans said. The network sold 30-second ads for over $6 million on average, with some exceeding $7 million, a record. The company expects to generate more than $500 million in advertising revenue from the game.

Many advertisers on Sunday will be familiar names, like Doritos and Pepsi. As always, celebrities will be everywhere. Many brands have already released teasers of their Super Bowl commercials online, hoping to spark conversations leading up to the game.

Some brands have teamed up. Netflix Inc., for instance, will have an ad with comic actor Will Ferrell driving electric vehicles in shows like Squid Game and Bridgerton, part of a partnership with General Motors Co. Netflix will also promote its upcoming golf documentary in an ad with Michelob Ultra.

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