It’s no surprise to see major brands like CBS show interest in New Jersey’s sports betting market. The advertisement industry is a lucrative source of income alone for many companies. Especially, for national broadcasting networks like CBS. Which, 38% of it’s generated revenue comes from advertisements.
Furthermore, CBS’s own, sportsline.com & cbssports.com both generate mass traffic. And this is where the company’s focus is at right now. Sports betting in NJ no longer thrives in the shadows. Its relevance is now something much more significant than anyone ever imagined a year ago. Situated between Philadelphia and NYC, NJ is at the center of the stage, and all eyes are on the Garden State now. And the nearby audience is in the tens of millions!
CEO at CBS thoughts about sports betting
Analyst and skeptics both agree with Mr. Moonves prediction. The northeast is a powerhouse domain for professional sports. Regardless of the league, MLB, NFL, NBA, NHL or even MLS all have deep roots in the NE region. Not to mention, the northeast is the most populated region in America. So advertising sports gambling to millions of sports fanatics is going to be huge!
Furthermore, the timing couldn’t be more perfect. In February 2019 CBS will host the two most televised events of the year, the Super Bowl and the Grammy’s. The events will take place on back to back weekends. And companies like FanDual & DraftKings will investing millions in advertisements. So, understandably CBS wants a piece of that cake, and now is the time to seal some deals. We expect to hear more news on this in the coming weeks.
Sports betting advertising is a Billion dollar industry
To conclude, there is no official word on how much CBS will be spending on sports advertising. But, two recent reports reveal that. Sports betting will generate billions in advertisement revenue. This prediction is over a five-year time span. If these thorough analyses prove to be correct, TV networks would see at least 75% of that revenue. So it’s expected we will soon see a deal on paper between CBS and NJ’s sports betting venues.