OAN Staff James Myers
3:08 PM – Tuesday, November 26, 2024
NBC According to multiple reports, the company could be forced to pay three times the annual fees it paid in the past to retain the rights to broadcast the Macy's Thanksgiving Day Parade.
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NBCThe company, which has held the rights to holiday television specials since 1953, is now seeking a new deal to continue hosting the festive event annually for the next 10 years, the newspaper reported. Wall Street Journal.
In order to continue business as usual, NBC The average annual fee will be more than $60 million, up from about $20 million under the current contract.
The deal will also include other Macy's events, including Fourth of July fireworks on the Hudson River.
Featuring giant floats, balloons, famous celebrities, Rockettes dancers, and “Santa Claus” himself, watching this nearly century-old parade is one of the most popular holiday events in terms of entertainment.
NBC Last year, we spent $52 million on advertising for spectacular holiday events. Additionally, the average cost of commercials during the parade is about $865,000, according to advertising research firm Guidelines. But this year, the average ad spend will net businesses a staggering $900,000.
Production costs have increased from less than $4 million a few years ago to nearly $7 million this year as celebrities pay more to appear in the parade.
The National Dog Show is held immediately after the parade. NBC“Puppy Bowl” has grown in popularity, bringing in 11 million viewers last year.
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