Every year we are subjected to stories in the news marveling at the exorbitant and ever-climbing rates charged for television advertising during the Super Bowl. Earlier this year, 30 second ad spots during Super Bowl XLIII were going for the princely sum of $3 million. With all that money floating around, surely broadcaster NBC is raking in money hand over fist, right?
Well, maybe not. NBC’s parent company, General Electric, has released the financials relating to their coverage and broadcast of Super Bowl XLIII, and claims that they — get this — lost $45 million dollars on the deal. Not surprisingly, some observers aren’t buying it.