In today’s big story, we’re looking at the big business of the Super Bowl, from advertisers to the ultrawealthy.

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From advertisers tapping into the game’s massive audience to the ultrawealthy networking in cushy suites, America’s biggest sporting event is also a massive business opportunity.

Last year’s game drew an average of 115.1 million viewers, a record for a US-based telecast. And the NFL has gotten even bigger this season, Business Insider’s Emily Stewart writes.

Commercials are a key part of the game, but we’re far from the days of Coca-Cola’s “Hey Kid, Catch!”

A 30-second spot costs $7 million, and that’s just the starting point, write BI’s Ryan Joe and Lara O’Reilly. Developing and filming a Super Bowl ad typically runs 50% to 60% more than a regular one.

Taylor Swift adds another wrinkle, Ryan writes, as advertisers contemplate what an in-game Swift cutaway could mean for their ad slot.

For some first-time Super Bowl advertisers, the commercial is a jumping-off point for a bigger campaign, writes BI’s Lauren Johnson.

The Super Bowl is also a calendar staple for the ultrawealthy, writes BI’s Madeline Berg. Some of the biggest names in their respective industries — from Elon Musk to Rupert Murdoch — have been known to attend the game and its events.

This year should also be star-studded. Private charter company VistaJet saw a 25% increase in flight bookings compared to last year, BI’s Taylor Rains and Grace Kay write.

And while it’s not on the level of Sun Valley, the famous “summer camp for billionaires,” putting enough powerful people in one location is bound to lead to some business. The new sports streaming service will give them plenty to discuss this year.

Meanwhile, American households are scheduled to shell out $17.3 billion on Super Bowl festivities, a $1 billion jump from last year, BI’s Juliana Kaplan and Cork Gaines report.

Of course, plenty of Americans will be banking on winning money instead of spending it. A record 68 million Americans are projected to bet $23.1 billion on the Super Bowl, according to the American Gaming Association.

The San Francisco 49ers are currently favored to beat the Kansas City Chiefs by two points, but it’s not just traditional bets people make. From the color of the celebratory Gatorade bath to the first song performed by Usher (the other musician in attendance) during the halftime show, there are plenty of unique prop bets to make.

🔔 Before the opening bell: US stock futures edge up early Friday ahead of inflation revision data from the Bureau of Labor Statistics.

2. Quants’ January report cards are in. Quantitative funds like Qube and Renaissance Technologies started 2024 strong, while Man Group’s AHL unit had mixed results. Here’s how some of the top systematic funds did.

3. The S&P 500 closed at an all-time high. The benchmark index closed just shy of 5,000 points on Thursday, after eking out gains of 0.1%. Strong growth, cooling inflation, and better-than-expected earnings are all likely to keep driving the gauge higher, according to UBS.

2. Google’s AI product lead explains the company’s “clean-up.” Google Vice President Sissie Hsiao said the company is renaming its AI assistant from Bard to Gemini as a way to embrace the latter as the firm’s AI brand.

3. Uber finally turned a profit. The ride-hailing company earned $1.1 billion in 2023 — a big win for CEO Dara Khosrowshahi. It’s the first time in Uber’s 15-year history that it’s finished a year in the green.

2. Amazon’s One Medical will shut down several corporate offices. A leaked email viewed by Business Insider showed that One Medical will close offices, change the CFO’s role, and shift to a regional corporate structure. The significant changes reflect the unit’s focus on cutting costs.

3. CEOs are feeling cheerful about the economy for the first time in two years. That’s according to the Conference Board’s latest Measure of CEO Confidence poll, published Thursday.

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• Today’s earnings: PepsiCo and other companies are reporting today.

Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, editor, in London. George Glover, reporter, in London.

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