Outdoor advertising is one of the most effective ways for brands to promote their products and services. This is because they are largely non-targeted and hence have a wide reach. However, this effectiveness comes at cost. And a pretty high cost, it is! OOH (out-of-home) advertising is expensive to say the least.
These costs are further propelled by when and where you advertise. An advertisement during the Super Bowl is a most sought after spot but also one of the most expensive in the world. Thus, it is usually headlines when a brand secures a spot for a Super Bowl commercial.
Internationally, there are a few acclaimed spots such as New York’s Times Square, Dubai’s Burj Khalifa, Sydney’s Opera House, Piccadilly Circus in London, Shibuya Crossing in Tokyo, the Las Vegas strip and of course the MSG Sphere in Paradise, Nevada, where OOH advertising is most prevalent and most expensive.
Recently, the cost for advertising on the MSG Sphere was leaked. It apparently costs a staggering $450000 a day and $650000 a week to advertise on the surface of the Sphere. The prices include MSG’s 300 plus designers on the creative and estimate roughly 4.7 million impressions; 300k in person and 4.4 million on social media. The cost to build the MSG Sphere is estimated to be around $2.3 billion.
The NBA (National Basketball Association) was the first brand that advertised on the Sphere for two weeks to promote the NBA Summer League. The Sphere was lit up to look like a basketball.
YouTube too did its first paid-for advertisement for its NFL Sunday Ticket offer on the Sphere, where the LED exterior for nearly two weeks, showcased a spinning American football helmet that periodically displayed the logos and designs of the National Football League’s 32 teams. GroupM agency EssenceMediacom negotiated YouTube’s ad buy with the MSG Sphere.
The MSG sphere is the most famous music and entertainment arena, located in Nevada, USA. Artists such as Elvis Presley, John Lennon, the Rolling Stones, Bob Dylan, Madonna, Elton John, Stevie Wonder and Taylor Swift are known to have sold out shows at the arena.