March Madness continued to be a full-court moneymaker with CBS and Turner Sports generating $655.1 million in ad revenue during the NCAA Men’s College Basketball Tournament, according to new data from Standard Media Index.
Among all sporting events, the March Madness NCAA basketball tournament may be the most tailor-made for streaming video. According to CBS and Turner Sports, which have TV rights to the games and operate the streaming offerings, March Madness Live is setting new records for streams and streaming hours so far, with both categories up by more than 25% compared to last year.
Local TV stations ramp up the coverage of March Madness to share the excitement, the drama and the human interest stories beyond the scores. “That’s really all people are talking about, especially in March,” said Russ Poteet, news director for KLBK in Lubbock, Texas, home of Texas Tech.
The National Collegiate Athletic Association is very serious about taking action against anyone who may try to trade off the goodwill in its March Madness marks — even if the NCAA’s actual marks are not used.
Monday night’s NCAA championship game, which saw Villanova crush Michigan 79-62, drew the lowest overnight rating in the history of the tournament. Across TBS, TNT and TruTV, the tournament’s championship game earned a 10.3 overnight rating. The previous low for a NCAA championship game was the 11.2 for the 2004 contest between UConn and Georgia Tech.
With the NCAA Basketball Tournament about to begin, broadcasters, publishers and other businesses need to be wary about potential claims arising from their use terms and logos associated with the tournament, including March Madness®, The Big Dance®, Final Four® or Elite Eight,® each of which is a federally registered trademark.