GM is going to skip the 2024 National Superleagues's Super Bowl, breaking a four-year streak of advertising at the football event of the year, the night that brands wait and prepare for, for months.
The US car giant motivated the decision, claiming that it continues to evaluate its media strategies to ensure they align with their business priorities.
General Motors started on a mission of severely cutting costs. Back in July, the group announced they would have to cut an additional $1 billion before the end of the year. Firing thousands of employees and closing down several centers was part of the strategy.
Last month, GM also decided to slow down with the launch of several electric models with the exact same purpose: to cut costs. The Equinox, the Silverado RST, and GMC Sierra Denali EV have been postponed. GM CEO Mary Barra says the move is designed to enhance the profitability of the EV lineup.
The move does make sense, considering that last year, advertisers paid an average of $7 million to air a 30-second long commercial during the Big Game. This year, the price remains unchanged. In full process of cutting costs, paying $7 million for 30 seconds of advertising or even $14 million for a whole minute on air during the Super Bowl might not be returned in sales figures.
Fox reportedly made approximately $600 million from ads alone after airing last season's game. A record audience of 115.1 million viewers saw the Chiefs claim their second Super Bowl in four years, defeating the Eagles.
For the past four years, GM has been advertising EVs, and it would have every reason to be there in 2024 as its lineup of electric models is expanding.
Back in February, General Motors came up with a commercial made with Netflix, in which Will Ferrell made a comeback, following his 2021 stint with the brand. The one-minute clip showed the Chevrolet Silverado V, Blazer EV, Cadillac Lyriq, and GMC Hummer EV. The Lyriq and the Hummer EV had also shown up in the 2021 advertising video.
In 2022, GM promoted its Ultium platform, specifically designed for cars with zero-emission tailpipes.
But 2024 tells a whole different story. The largest US automaker will keep its distance from the Big Game. However, changing their mind would be way too late. At the beginning of November, a spokesperson for Paramount said that the game inventory for Super Bowl LVIII on CBS is "virtually sold out, pacing ahead of schedule." By August, 90% of the advertising space was already sold.
The grand finale is set to take place in Las Vegas, Nevada, on February 11, 2024. Usher will be the headline performer at the 2024 Super Bowl half-time show, it was confirmed back in September.
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