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There are still some people out there who believe that the Super Bowl is about sport. The rest of us know it's about money.

Case in point:

  • (in which our Investor Roundtable team tells us which advertisers they like as investments)

You get the drift. Now for a look at whether advertisers and their stock prices actually benefit from shelling out the big bucks for the big game. (Hat tip:

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Marketing professors Chuck Tomkovick and Rama Yelkur at the University of Wisconsin-Eau Claire studied 15 years' worth of Super Bowl ads and the corresponding stock performance.

They found that, on average, companies that advertise during the Super Bowl outperform Standard & Poor's 500-stock index by more than one percentage point in the 10 trading days from the Monday before the game to the Friday afterward. They say the stock effect holds irrespective of how well the ad scored on USA Today's ad meter or how well the ad was executed.

They also found that in 2009 and 2010, nearly two-thirds of the Super Bowl stocks (41 out of 62) were still outperforming the S&P 500 at the mid-year mark (June 30 for 2009 and 2010), with the gains more than double the size of the losses.

And about 60 per cent of the Super Bowl stocks (38 out of 62) were still outperforming the S&P 500 at year-end, with the gains again more than double the losses.

Enjoy the game, folks.

2010 Super Bowl: Big advertisers' stock performance


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