Benzinga - by Chris Katje, Benzinga Staff Writer.
The costs of Super Bowl commercials continue to rise, reaching a record-high price tag for a 30-second spot during Super Bowl LVIII.
For many companies, the high cost is worth it as it can be the perfect place to show off new products, slogans or cater to new demographics. Here's a look back at one of the most famous Super Bowl commercials of all time.
What Happened: Ads that aired during Super Bowl LVIII had a cost of $7 million for the Paramount Global Inc (NASDAQ:PARA)(NASDAQ:PARAA) broadcast on CBS and Paramount+.
Back in 1980 for Super Bowl XIV, a 30-second ad had a cost of $275,000. Beverage giant Coca-Cola (NYSE:KO) was among the advertisers for Super Bowl XIV, which saw the Pittsburgh Steelers defeat the Los Angeles Rams 31 to 19.
One of the commercials that aired during Super Bowl XIV featured Steelers' defensive tackle Joe Greene. Playing for the Steelers from 1969 to 1981, Greene was well-known as one of the toughest competitors and earned nicknames "Mean Joe" and "Mean Green" during his college and NFL playing days.
The Super Bowl XIV featured Greene as a tough player who's really a nice guy as part of Coca-Cola's "Have a Coke and a Smile" ad campaign.
The commercial from ad agency McCann Erickson features a kid (played by Tommy Okon) trying to get the attention of an injured Greene, heading into the tunnel to the locker room. The kid tells Greene he thinks he's the best and offers him a bottle of Coca-Cola. Greene accepts the offer and drinks the entire bottle of Coke.
Greene turns to the boy and says the famous tagline "Hey Kid, catch" and throws his jersey to the kid.
"Wow! Thanks, Mean Joe!" the kid says in response.
The ad originally aired during a Monday Night Football NFL game in October 1979, but gained huge attention after airing during Super Bowl XIV. The ad would win a Clio Award as one of the top advertisements for the year.
Coke's ad with Greene is considered one of the best Super Bowl advertisements ever, ranking among the best by People and named number one on a list from Entertainment Weekly. The ad was so popular, a made-for-television movie was inspired by it ("The Steeler and the Pittsburgh Kid").
The beverage giant paid tribute to their ad 30 years later (Super Bowl XLIII) with Steelers' defensive star Troy Polamalu recreating many of the shots of the original commercial in a Super Bowl spot.
Coca-Cola went on to be one of the biggest advertisers during Super Bowls for many years, choosing to use the large viewership as an avenue to highlight new products and company slogans.
Related Link: Super Bowl Commercials 2024: Complete List Of Super Bowl LVIII Ads And Companies Behind Them
Investing $1,000 in Coca-Cola Stock: An investor seeing the Super Bowl commercial and wanting to invest in Coca-Cola stock could have purchased shares the morning after the big game, which took place on a Sunday with the market closed.
A $1,000 investment in Coca-Cola stock could have bought 1,449.28 KO shares based on a split-adjusted price of 69 cents at the time.
The $1,000 investment would be worth $87,826.37 today, based on a price of $60.60 for Coca-Cola shares. The investment would be up a staggering +8,682.6%.
Investors would likely be saying "Thanks, Mean Joe" if they invested in Coca-Cola stock.
Read Next: Super Bowl Ad Costs Race Past Inflation: $7M Commercial Is Equivalent To $61 Gas, $340 6-Pack
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