The 2009 Super Bowl is 65% sold

Saw this interesting tidbit over at Media Post,

CBS has sold 65% of the available ads for next year’s Super Bowl, reports Mediaweek. At the same time last year, NBC had sold 85%, however, the network did not have to contend with the total fallout of the recession. Forty spots have been sold out of a possible 62. The prices are in the $2.7 million – $2.8 million range; slightly lower than NBC. The game will be played Feb. 7.

The Super Bowl is not recession proof! CBS’s $2.7-$2.8 million dollar range for ads is actually in line with the 2007 Super Bowl, which was televised by FOX.  Actually, this news may be the most telling evidence we will see that sports has been affected by the recession.  You have the Super Bowl, which is a premium product that is typically very inelastic in terms of price, not only showing hints of price sensitivity, but showing a decline in ad sales at even lower prices than last year.

And these are the people with deep pockets buying the ads…

When I wrote about the Super Bowl ad prices last year, I wondered where the price ceiling was in terms of Super Bowl ads.  Sure, we’ve seen a decrease in ad cost, primarily due to the recession, but does that mean we’ve seen the price ceiling in terms of ads?  In short, will we see the Super Bowl return to its point of almost complete inelasticity once the recession is over, or will the recession completely alter the usual non-conservative nature of those paying for Super Bowl ads?

…and what will we see with other sporting events? and ticket prices?  Will the recession be a turning point for determining price points in sports business for years to come? It will be interesting to see how sports business is shaped over the next year, yes?