$1 Billion Record Now in the Rear-View Mirror as March Madness Leaves Warner Bros and Other Companies ‘Virtually Sold Out’

The NCAA March Madness is about to begin as 68 Division I teams compete for the national championship this year. Every year, fans eagerly anticipate the winners but moreover, wait for March Madness to unfold. Rival teams going head to head, Cinderella stories, or notable teams cementing their names even more, the almost three-week-long tournament piques everyone’s interest. March Madness draws a lot of attention from all around the country, which makes the ad spots during the event worth a fortune. This year is no different as the ad sales are projected to break the previous year’s record.

According to ‘Adweek’, March Madness advertisement sales have surpassed the previous season’s $1 billion record threshold. Warner Brothers Discovery Sports Vice-President of Sales Jon Diament reported it on Wednesday.

NCAA Men’s Division I Basketball Tournament surpasses the previous record

As per the reports, both CBS and Warner Bros. Discovery are ‘sold out’ of their virtual inventory. Not only that, but the NCAA March Madness Live App too has sold out as the tournament is about to unfold in another week.

The tournament is a great option for brands to get the maximum exposure. According to Elevate Sports Ventures, both Women and Men’s March Madness have been able to deliver more than $410 million worth of media exposure in terms of telecasting brands during games.

John Bogusz, the executive vice president of sales at Paramount Advertising, reported that the media partners of the NCAA saw an increase from mid-to-high in single digits for the upcoming tournament.

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NCAA’s corporate partners are Nissan, Capital One, AT&T, Coca-Cola, and Pizza Hut, to name a few. Recently, Pizza Hut announced that it was bringing back a fan-favorite item for March Madness.

CBS and Warner Bros. to head March Madness

The Big Dance will kick off as CBS will host the annual bracket reveal, giving fans an idea of which teams will face off with each other. Greg Gumbel will host the annual Selection Sunday show along with Jay Wright, the former coach of Villanova. Analysts Seth Davis and Clark Kellogg will also join them as hosts.

The NCAA tournament will begin on March 14-15, airing the first four games. While the two final four games are scheduled for April 1, the championship game will be on April 3.

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CBS and Warner Bros. will do the coverage of all 67 games across truTV, TNT, CBS, and TBS. CBS will air the final four and the championship games. The NCAA March Madness Live App will also be streaming all games.