WarnerMedia and CBS Line Up Record March Madness Ad Revenue Following Covid Cancellation

'This is the best year we've ever had,' topping 2019's $910 million windfall

march madness logo with money behind it
“Financially, we've never been in better shape,” said Jon Diament, chief revenue officer, Turner Sports. March Madness, Getty Images

It turns out marketers missed March Madness—which was canceled last year because of Covid-19—just as much as fans did. With just one week to go before the NCAA Division I Men’s Basketball Tournament, Turner Sports and CBS have “virtually sold out” of their advertising inventory for the event, and are expecting their most lucrative year yet, John Bogusz, evp of CBS sports sales and marketing, told reporters late Wednesday.

@MollieCahillane Mollie.Cahillane@adweek.com Mollie is Adweek's reporter covering the business of connected TV.