Super Bowl 2023: Crypto companies forgo commercials

Yahoo Finance Live anchors discuss news that crypto companies have not purchased any ad spots in this year’s Super Bowl.

Video Transcript

JULIE HYMAN: And there's one space that will not be making an appearance at the Super Bowl this year. I think you'd probably guess it. It's the one that was all over it last year-- crypto. After a slew of ads from FTX, Crypto.com, Coinbase last year, the companies have not bought any ad spots at this year's big game. No surprise here, guys. I was even sort of jolted by seeing a bunch of Instagram posts from the Grammys that had the location, this Crypto.com Arena, because I had momentarily forgotten that the Staples Center was renamed Crypto.com and still is named Crypto.com Arena.

BRAD SMITH: Still is. Still is, indeed. I mean, so many advertisements that we saw from crypto, and it really populated and dominated the airspace time and every kind of commercial break that we saw last year's Super Bowl. This year, it's just a kind of toss-up, and it will probably revert to the same type of companies that we've become--

JULIE HYMAN: Beer.

BRAD SMITH: Beer.

JULIE HYMAN: Insurance.

BRAD SMITH: Tostitos probably, maybe a couple of music streaming services here and there.

BRIAN SOZZI: I'm really excited how Apple shows up. It's, what, the halftime show?

BRAD SMITH: Yeah.

BRIAN SOZZI: Sponsor no more PepsiCo, which reports earnings later in the week. But I'm just curious if they can-- I mean, I think they can steal the show. I'm very curious what they have planned.

BRAD SMITH: Bad gal Riri. She'll definitely steal the show.

BRIAN SOZZI: Yes.

BRAD SMITH: It's really just a Rihanna concert--

[BUZZER]

--that happens to be [INAUDIBLE].

BRIAN SOZZI: Flanked by a football game, right?

BRAD SMITH: Yeah.

BRIAN SOZZI: That's true.

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