OAN Staff James Meyers
3:08 PM – Tuesday, November 26, 2024
NBC may be forced to pay triple the yearly fees it has paid in the past, in order to hold onto the broadcast rights for the Macy’s Thanksgiving Day Parade, according to multiple reports.
NBC, which has held the broadcasting rights to the holiday TV special since 1953, is currently trying to get a new deal, keeping the festive event happening annually for the next ten years, according to the Wall Street Journal.
To continue business as usual, NBC would have to spill an average annual fee of more than $60 million, which is up from around $20 million under the current contract.
The deal would also include other Macy’s events, such as the Fourth of July fireworks over the Hudson River.
Watching the almost century-old parade, with its gargantuan floats, balloons, famous celebrities, the Rockettes dancers, and “Santa Claus” himself, is one of the most popular holiday events to enjoy in terms of entertainment.
NBC brought in $52 million in advertising last year for the eye-popping holiday event. Additionally, the average commercial cost during the parade comes out to around $865,000, according to advertising research firm Guideline. However, this year, the average ad will cost companies a staggering $900,000.
Production costs have increased from under $4 million a few years ago to almost $7 million this year, as celebrities hike their fees for parade appearances.
“The National Dog Show” immediately follows the parade on NBC, as the “Puppy Bowl” has increased in popularity, bringing in 11 million viewers last year.
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