To the surprise of no one, CBS and TNT Sports sold out March Madness advertising inventory.
“We typically don’t get into percentage of sales, but we’re happy to say we’re virtually sold out,” said Ryan Briganti, EVP and head of sports sales at Paramount Advertising, speaking to reporters during a joint call Wednesday afternoon. “This marketplace picked up earlier than it has historically.”
According to Jon Diament, chief U.S. advertising sales officer at Warner Bros. Discovery, the programming has upward of 20 sponsors and 50% of inventory sold in advance. “It’s got a huge head start, even before you get to the upfront,” said Diament.
Diament and Briganti confirmed advertising numbers are hitting historical records –- surpassing $1B in the last couple years. Insurance, pharma, auto, banking and travel have all been strong growth categories. “Advertisers really love this property,” said Diament. “We all know the importance of live sports in the marketplace, but seasonality wise as well, it just fits nicely in the pocket of upfront and the scatter marketplace as well.”
Selection Sunday is this weekend. CBS and WBD jointly broadcast the tournament each year, and the 2025 finals head to CBS. Both companies declined to share dollar values around advertising slots. In the last several years, prices ranged from a couple hundred thousand dollars in the First Four to well over $2 million for a 30-second spot.
“We feel good about it,” said Briganti. “I know dodging the question, but it’s just not something I’m comfortable sharing, but it’s all positive, and we’re comfortable and very happy with where we’re at.”
