00:00During Super Bowl week, you're going to see a lot of things.
00:03Athletes, parties, crazed fans.
00:05He was five, he was six, he was seven.
00:09Whatever this is.
00:13But no matter where you look, ads and brands are everywhere.
00:18I'm Miranda Williams, sports business reporter at Bloomberg News,
00:20and I'm taking you inside the world's biggest, flashiest,
00:24and most expensive sporting events to answer one question.
00:27How did sports become this big of a business?
00:32Let's start at a place that everyone argues about the next day.
00:36Commercials.
00:36Everyone has a favorite.
00:38Snickers and Betty White.
00:42Volkswagen and the Ford.
00:45Don't touch my mama, don't touch my Doritos.
00:48These ads don't just sell products, they create memories.
00:51But they come at a cost.
00:53A heavy one.
00:5420 years ago, the average Super Bowl ad cost $2.3 million.
00:5710 years ago, it was $5.4 million.
01:00And this year, a Super Bowl ad ran $8 million.
01:04But why?
01:05And who would pay such an ungodly amount?
01:08This year's buyers include Michelob Ultra, Pepsi, OpenAI, Pringles with Sabrina Carpenter,
01:14and even the brand new Cadillac F1 team.
01:16I think you've seen an inclusive approach to trying to make Cadillac F1 America's F1 team.
01:23And the thing about it is, Super Bowl ads don't just air once.
01:27They live forever.
01:28Take, for example, Apple's iconic 1984 Macintosh commercial.
01:32It took aim at IBM and made the product launch of the Macintosh computer a cultural event.
01:37Not all the magic happens during the broadcast.
01:40Brands rent out private spaces, host invite-only events, and create environments that you literally can't buy tickets to.
01:46Take a look at Gatorade, who's activating throughout the week to stay visible at the biggest sporting event.
01:51Everyone in the industry is here.
01:53Like, every athlete is here.
01:54Every CEO of every major company is here.
01:58Every major media outlet is here.
02:00So this is a great moment for us to talk about the strategy of the brand, talk about where we're
02:04going to go in the future.
02:05And then there are athlete representation events.
02:07CAA, WME, Clutch Sports, Excel Sports Group, all quietly networking while the rest of the world watches the game.
02:14In essence, during Super Bowl week, we see football become finance, music become marketing, and access becomes currency.
02:20And this is SportsCity.
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