The news: Fox has sold out ad space for the 2025 Super Bowl, the company announced during its quarterly earnings call. Thirty-second spots for the Big Game sold for approximately $7 million each, up from about $6.5 million during this year’s CBS broadcast—though Fox cited “record pricing” for the space.

The value prop: The Super Bowl is consistently the most watched US broadcast, attracting an average of 123.4 million viewers this year, per Nielsen. Paying $7 million for 30 seconds is steep, but high ROI and an unparalleled opportunity to elevate a brand into the public consciousness keep advertisers coming back year after year.