CBS and Turner have "virtually sold out" of their television commercial inventory for the March Madness college basketball tournament, which starts March 19, reports B&C, citing sales executives for both companies.
"We are extremely tight right now," John Bogusz, executive vice president of CBS sports sales and marketing, told B&C. "We are tighter this year than we were last year at this point," when the sellout level was at about 95%.
The Final Four games on Saturday, April 6, and the National Championship Game on April 8 are sold out except for floater ads, which would happen if additional timeouts are called during the games, allowing some extra commercials to air, the story says.
The piece reports: "The heavy sellout level is not only due to the popularity of the tournament and the telecasts, but also because many of the advertisers either have multiyear deals or made their investments earlier than last year.”
"Bogusz and [Turner Sports executive Jon] Diament both say returning advertisers without multiyear deals began committing to this year’s tournament much earlier than last year and with larger investments," the piece says.