Even with some resilience to the game’s quality, Schwartz noted the impact of having an ad early in the game, adding that brands looking to secure a specific position in any quarter need to move quickly.

“If you want a position, or your creative has something to do with the second quarter, you can’t play games. You have to go out, get it, and buy it early, because it may not be there by the time you’re actually able to make that decision,” Schwartz said.

Is a Super Bowl ad worth it?

Although the Super Bowl has a bigger scale, tentpole events like the Grammy Awards, the Academy Awards, and others can serve as alternate outlets for brands.

“Other tentpoles are also very important, and they’re becoming more Super Bowl-like in terms of making sure they have brand new creative and storytelling,” Schwartz said. “It’s still just not at the same scale, but you’re seeing that with all of these tentpoles. That’s going to continue as we go forward, whether it’s the Grammys or the NCAA Tournament, whatever it may be.”

According to Martin Blich, executive director, sports and live investment for the U.S. at GroupM, the Super Bowl’s early sellout shows the power of live tentpoles, and advertisers don’t need to just set their sights on one.

“While brands are expanding their presence across a variety of high-profile moments, each event offers bespoke value in reaching and engaging audiences,” Blich said. “A mix of these live cultural moments can help brands maximize impact and stay atop the broader conversation.”

Although live events have more stability in ratings over time, the National Football League and the Super Bowl still reign supreme.

“I haven’t seen a trend of other live events being prioritized to the detriment of the NFL,” Marcy Greenberger, chief investment officer at UM, said. “Advertiser demand for NFL inventory was especially strong this past season, and I expect that trend to continue.”