Super Bowl Advertising Research Articles

The Short-Term Impact Of Super Bowl Advertising On Stock Prices: An Exploratory Event Study

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><em style="mso-bidi-font-style: normal;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">Advertisers are under pressure to demonstrate the financial effectiveness of their advertising.<span style="mso-spacerun: yes;">  </span>Event study methodology utilizing measurement and comparison of stock prices may be one way to address this concern.<span style="mso-spacerun: yes;">  </span>In this study, our results suggest that while advertising in the Super Bowl does not have a significant positive impact on a firm’s stock price the day after the Super Bowl, when considering windows from two to four days before and after there is a significant positive stock price effect.<span style="mso-spacerun: yes;">  </span>Additionally, we found the current method advertisers use to judge the effectiveness of Super Bowl advertising (i.e. likeability with the USA Today poll and Advertising Age poll) had no significant relationship with financial effectiveness as measured by stock price.<span style="mso-spacerun: yes;">  </span>This suggests that the methods marketers use to judge Super Bowl advertising effectiveness may not be good measures of success in financial terms.<span style="mso-spacerun: yes;">  </span>Finally, our results suggest that if a firm does choose to advertise in the Super Bowl, they may want to pick the second quarter for their ad and that they need to maximize pre-Super Bowl publicity due to the impact on stock price before the Super Bowl. </span></span></em></p>

Winning the Super “Buzz” Bowl

ABSTRACT Super Bowl advertisements have become almost as famous as the game itself. Between production costs and the price of air time, companies who advertise in the Super Bowl do so at considerable expense. Return on investment for Super Bowl advertisements is strengthened by wide viewership, pregame media chatter, and postgame buzz among consumers. Not all advertisements, however, generate the same degree of buzz. Recent models of advertising effectiveness have emphasized the importance of emotions, suggesting that advertisements that engage consumers on emotional levels will be most effective. This study examines how emotional engagement with Super Bowl advertisements relates to an important area of consumer response: online buzz. A biologically-based measure of audience engagement was used to monitor a sample of adults (N = 30) as they viewed Super Bowl XLII live. Advertising scores derived from biometric response ratings for Super Bowl advertisements were highly correlated with online buzz (i.e., the number of times an advertisement was commented on and the number of times it was viewed online). Results of the study are discussed with regard to the role of emotions in advertising and the utility of biometric measures for assessing consumers9 emotional engagement with advertising content.

Playoff payoff: Super Bowl advertising for movies

Marketers are increasingly making use of major TV events, such as the Super Bowl, to advertise their products. However, the economic value of such advertising is highly uncertain. Since an ad during the Super Bowl costs 2.5 times more per viewer reached than an ad during a network TV prime time show, developing methods for evaluating such advertising and for measuring its effects seems particularly important. Using the setting of the movie industry, this paper develops and estimates a model that includes both direct (on potential moviegoers) and indirect effects (on exhibitors) of regular and Super Bowl advertising. The model recognizes the endogeneity of advertising, and in particular develops a discrete choice model to control for the endogeneity of the Super Bowl advertising decision. The results indicate that Super Bowl advertising has a positive effect on box office revenues, but primarily through an indirect effect on exhibitors. In addition, regular TV advertising is more effective than Super Bowl advertising for initial advertising spending; a counterfactual analysis, by contrast, shows that for a movie already spending at our sample's average TV spending level of $13 million, Super Bowl advertising has a greater effect on revenues than regular TV advertising.

Visibility versus Surprise: Which Drives the Greatest Discussion of Super Bowl Advertisements?

ABSTRACT Super Bowl advertisers count on media coverage and word-of-mouth discussion to provide ROI beyond the game9s viewership and to justify the most expensive 30-second commercial time of the year. Many companies have historically thought the best strategy was to keep their Super Bowl advertisements secret, hoping that the element of surprise will generate this postgame buzz. In 2007, several advertisers actively promoted their involvement with the game and even revealed their advertisements on the web before the game. The data show that an aggressive promotion strategy is the most effective way to generate postgame consumer discussion and demonstrate how the volume of pregame traditional media coverage drives postgame activity.

Can Companies Influence Investor Behaviour through Advertising? Super Bowl Commercials and Stock Returns

Abstract Recent research shows that mood and attention may affect investors’ choices. In this paper we examine whether companies can create such mood and attention effects through advertising. We choose a natural experiment by investigating price reactions and trading activity for firms employing TV commercials in 19 Super Bowl broadcasts over the 1969–2001 period. We find significant positive abnormal returns for firms which are readily identifiable from the ad contents, which is consistent with the presence of mood and attention effects. For recognisable companies with the number of ads greater than the sample mean, the event is followed by an average abnormal one day return of 45 basis points. The effect appears to persist in the short term with the 20‐day post‐event cumulative abnormal returns for such firms averaging 2%. We find significant abnormal net buying activity for small trades in shares of recognised Super Bowl advertisers indicating that small investors tend to be the ones most attracted by the increased publicity.

Strategies for the Super Bowl of Advertising: An Analysis of How the Web is Integrated into Campaigns

ABSTRACTAdvertisers spend millions of dollars on Super Bowl advertising. Are those ads part of larger campaigns? Specifically is the Web integrated with Super Bowl advertising? This study examined overall strategy (transformational vs. informational), message strategy (what to say), and creative strategy (how to say it) of the 2003 Super Bowl ads and related Web sites. Television commercials used transformational strategies more than did Web sites. Message strategies were more consistent across media than were creative strategies. Thus, campaigns may be integrated in “what to say” even when the “how to say it” seems different. Some unexpected relationships were found between message and creative strategies but these findings highlight the need to tailor messages to technological capabilities of media.

The Effect of Content on Perceived Affect of Super Bowl Commercials

The Super Bowl television broadcast is the premier sports viewing spectacle each year. Although large sums of advertising dollars are spent on the production and placement of Super Bowl advertisements, little is known about the content of these advertisements and the level of affect associated with various aspects of the content of Super Bowl advertisements. This study explores the content of commercials shown during the 1996-2002 Super Bowls and uses USA Today Ad Meter scores as a dependent variable. Content analysis is used to analyze the data along with follow-up analyses investigating the relationships among advertising content and affect toward the advertisement. The findings suggest that higher levels of affect are associated with advertising goods rather than services in Super Bowl advertisements, and strategies include the following: using emotional appeals, avoiding straight announcements as a message format, including animals, and not making quality claims.

Super Bowl Advertising Effectiveness: Hollywood Finds the Games Golden

<h3>ABSTRACT</h3> Super Bowl advertising receives considerable media attention each year, in part, because of the large TV audience the event attracts. Since 2000, advertisers have spent an average of over $2 million to run 30-second advertisements in these games. The question is often asked: “Are these ads worth it?” This study examines Super Bowl advertising effectiveness from the Hollywood movie industry9s perspective. Results indicate that the average Super Bowl promoted film achieved twice as much first weekend, first week, and total U.S. box office revenue than its average non-Super Bowl promoted movie counterpart for the years 1998—2001. When all movies with production budgets of $35 million or more and U.S. release dates within 7 months of the 1998—2001 Super Bowls were considered, Super Bowl promoted movies grossed nearly 40 percent more than non-Super Bowl promoted movies. Conclusions are drawn and future research directions are outlined.

Can Companies Influence Investor Behavior through Advertising? Super Bowl Commercials and Stock Returns

Recent research shows that mood and attention may affect investors' choices. In this paper we examine whether companies can create such mood and attention effects through advertising. We choose a natural experiment by investigating price reactions and trading activity for firms employing TV commercials in nineteen Super Bowl broadcasts over the 1969 - 2001 period. While there do not appear to be significant abnormal returns for the overall sample, abnormal returns increase in the number of ads employed and are greater for firms readily identifiable from the ad contents, which is consistent with the presence of mood and attention effects. For recognizable companies with the number of ads greater than the sample mean, the event is followed by an average abnormal one day return of 45 basis points. The effect appears to persist in the short term with the 20-day post-event cumulative abnormal returns for such firms averaging two percent. We find significant abnormal net buying activity for small trades in shares of recognized Super Bowl advertisers indicating that small investors tend to be the ones most attracted by the increased publicity.

The USA's biggest marketing event keeps getting bigger: an in-depth look at Super Bowl advertising in the 1990s

Over the last decade, US Super Bol advertising has evolved into a unique phenomenon. US advertisers love the Super Bowl because it has reached an average television audience of over 120 million US viewers for the last 10 years. This manuscript examines the popularity of Super Bowl advertising during the 1990s. Every Super Bowl advertisement aired in the USA during the 10-year period 1990-1999 was video taped and viewed. In addition, USA Today's published Super Bowl advertisement likeability results were incorporated into the analysis. A total of 454 national advertisements were examined with regard to advertisement likeability. The impact of humour, advertisement length, animals, celebrities and product category type on advertisement likeability was assessed with the help of a comprehensive Super Bowl advertisement likeability model. It was hypothesized that each of these variables would be positively related to Super Bowl advertisement likeability. The results of a multiple regression analysis indicated that all these factors except the presence of celebrities had a strong significant impact on advertisement likeability scores.Based on these findings,this paper provides advertising strategy recommendations for future Super Bowl advertisers and marketing academics.

Super bowl advertising as commercial celebration

The Super Bowl symbolizes the increasing acceptance and prevalence of advertising in society. The essay analyzes the discourse around Super Bowl advertising. After first examining the reasons why national advertisers are attracted to the Super Bowl, the essay then examines pre‐event discourse about Super Bowl advertising, discourse that elevates advertising during the event, and post‐event discourse about Super Bowl advertising. Ultimately, the paper argues that because Super Bowl advertising has been granted such social attention and legitimacy, it encourages the celebration of advertising as a beloved form of mediated entertainment.

Super Bowl advertising: field testing the importance of advertisement frequency, length and placement on recall

This study investigates the effects of length, frequency and pod placement on advertising recall in a non-laboratory setting. Subjects were surveyed the day after Super Bowl XXVIII to determine recall of advertisements shown during the game. The results indicate that length and frequency positively and significantly influence advertisement recall.