Bloomberg Intelligence: Inflation Progress, Super Bowl Weekend
Feb 9, 2024
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Bloomberg Intelligence podcast: Ira Jersey talks about economic data in the US and future Fed actions; Jennifer Bartashus discusses Super Bowl food sales; Jill Blanchard shares retail and consumer insights for the Super Bowl weekend
Betting on the Super Bowl is expected to reach $24 billion, driven by the rise of online gambling platforms and the ability to bet on various aspects of the game.
Advertisers are targeting the female audience with products like Ice Cream Drumsticks, Etsy, and Lint Chocolates, expecting a significant increase in candy, sweets, and cookies category during Super Bowl advertising.
Deep dives
Super Bowl Betting Expected to Reach $24 Billion
Experts predict that betting on the Super Bowl will reach a staggering $24 billion, a 33% increase from last year. The rise in online gambling platforms, such as Fanduel, DraftKings, and BetMGM, has contributed to this growth. People can bet on various aspects of the game, including the color of the Gatorade, the length of the national anthem, and even whether Travis Kelce will propose to Taylor Swift if the Chiefs win.
Advertising Comeback and Increased Female Audience
Advertisers are expecting a strong comeback in Super Bowl advertising this year. A significant increase is expected in the candy, sweets, and cookies category, with big brands like Oreo and Dove running ads. The female audience, which accounted for 47% of viewership last year, is being targeted by advertisers who want to promote products like Ice Cream Drumsticks, Etsy, and Lint Chocolates.
Game Prediction and Patrick Mahomes' Salary
Experts believe that the Super Bowl will be a highly competitive game, with the spread being just one and a half points favoring the Chiefs. Many are impressed by Chiefs quarterback Patrick Mahomes' performance, especially considering that his salary accounts for 17% of the team's salary cap. In contrast, 49ers quarterback Brock Purdy's salary represents only 0.37% of their salary cap.
Insight into the Business of the Super Bowl
The Super Bowl is a multi-billion dollar event, with the betting, advertising, and consumer spending associated with the game generating significant revenue. Experts predict that Super Bowl Sunday will be a big day for food and beverage sales, particularly in the candy and snacks category. The event is also an opportunity for retailers to promote their products and increase sales. The female audience is gaining importance, and advertisers are targeting them with diverse products and messages.
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Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist joins to discuss today's economic data in the U.S, and what comes next for the Fed. Jennifer Bartashus, Bloomberg Intelligence Senior Analyst, Retail Staples & Packaged Food, discusses Superbowl food and beverage sales. Jill Blanchard, President of Enterprise Client Solutions at Advantage Solutions, joins to discuss what we can expect to see over the weekend leading up to the Super Bowl from a retail and consumer perspective. Bloomberg Business of Sports Hosts Michael Barr and Damian Sassower, break down Super Bowl prop bets and what to expect from the big game.