The Super Bowl is not only the biggest sporting event in the US, but also a huge opportunity for advertisers to reach millions of viewers. X, the social network formerly known as Twitter, is trying to capitalize on this opportunity by selling special ad packages tied to the National Football League playoffs and Super Bowl.
X’s Super Bowl Ad Strategy
X has been offering video ads that run before NFL highlight videos, which are popular among its users. These ads range in price from $250,000 for spots that ran before the two conference championship games last month to $1 million for ads during the entire playoffs schedule through the final game, according to people familiar with the deals.
X sold its most important ad slot, known as “first look,” to BetMGM, the online sportsbook. This means BetMGM’s advertisements appear on X, right near the top of users’ feeds when they first open the service, and also at the top of the app’s search and trending sections. These placements typically cost several million dollars.
X’s Partnership with BetMGM
X’s ad deal with BetMGM is part of a broader partnership between the two companies, announced on Friday. The partnership includes adding BetMGM’s live point spreads to the X app, though users will not be able to place wagers through the social network and will have to go to the sportsbook instead.
X users in the US will get access to betting odds on pro football first, with each of the major professional and college sports expected to follow in the coming weeks, BetMGM said in a statement. The partnership is expected to boost X’s engagement and revenue, as well as BetMGM’s exposure and customer acquisition.
X’s Super Bowl History and Future
The Super Bowl has historically been the most important day of the year for X. The NFL championship contest drives a frenzy of posts before and during the game and boosts new sign-ups. It is also usually the biggest event of the year for X’s advertising sales team.
However, X has faced some challenges in recent years, such as losing its streaming rights for NFL games to Amazon and facing backlash from some users and advertisers over its content moderation policies. X also changed its name from Twitter last year as part of a rebranding effort to expand its appeal beyond its core user base.
X hopes that its Super Bowl ad packages and its partnership with BetMGM will help it regain some of its lost momentum and attract more advertisers and users. X also plans to launch new features and products this year, such as subscription services and e-commerce integrations, to diversify its revenue streams and grow its audience.
