March Madness scores record ad sales

A report in Brandweek magazine said that revenues would be boosted this year by internet advertising sales.

CBS, which holds all TV, radio, satellite, digital, internet and home video rights to the event, expects to generate about $21 million in ad revenue from the recently re-branded CBS College Sports Network and its ‘March Madness on Demand’ webcast.

In total, more than 130 million people watched all or part of last year’s tournament on TV with the 2007 championship game drawing an audience of 40.3 million, Brandweek said.

The 2008 event began on Sunday evening on CBS with the ‘NCAA Basketball Championship Selection Show’, which determined the field of teams.