It seems like every year or two there’s a category that absolutely floods advertising on sports broadcasts. The Daily Fantasy is the most famous example, although sports betting may join the ranks this fall thanks to the NFL approval of up to six ads per game broadcast.
So what category could be next in line? It can be cryptocurrency. According to the Sports Business Journal, Fox Sports will be putting its foot in the crypto-ad this fall. Crypto.com will be the main sponsor of Fox’s post-game college football studio show and will also air commercials on NFL, MLB Postseason and college football shows.
Crypto companies have yet to be particularly active in the U.S. market, but industry sources predict crypto could become a $ 100 million category for sports TV over the next 12 months.
The reason for such optimism: a new deal that Fox Sports signed with Crypto.com around college football. The deal, which is said to be in the seven-digit range, gives the cryptocurrency company introductory sponsorship for the post-game show “College Football Extra” on Fox’s broadcast network and on FS1.
Starting in mid-October, Crypto.com will run ads throughout Fox Sports’ fall programming, including college football, postseason baseball, and the NFL.
This isn’t Crypto.com’s first deal in the sports world – it also has sponsorships with the UFC and Formula 1. But the deal with Fox appears to be a milestone, as although sponsorship from presentation is tied to the post-match varsity football show, commercials will begin to appear on other games airing on Fox’s networks, exposing the brand to a much wider audience.
And you * know * that when a network makes a deal with a brand in one category, the other networks will eventually follow. ESPN, NBC, and Bally Sports may not make deals with Crypto.com, but they will eventually make deals with similar cryptocurrency companies. These deals may not include title sponsorships, but they will absolutely include ads on shows that may or may not blow viewers up, like the barrage of fantastic daily ads did in no time.
The NFL is also looking at crypto, but is more cautious. Athletic reported last week that the teams were told they couldn’t sell referrals to crypto trading companies (and couldn’t sell NFTs of any value), one of the site sources claiming the league wanted to be “deliberate and strategic.” with any potential crypto sponsorship.
So crypto announcements are coming anyway, but not to an absurd degree (yet, at least). We hope they don’t end up overwhelming viewers at home and are just another category of ads instead of the dominant force in the landscape.
However, I won’t lie: I am secretly excited by the possibility that an older personality like Dick Vitale or Lee Corso may have to read a crypto ad. It worked so well for Mike Shannon…[Sports Business Journal]