Tuesday, September 27, 2022
HomeBTCAds at the Super Bowl fail to increase downloads despite spending millions

Ads at the Super Bowl fail to increase downloads despite spending millions

After spending a lot of money on Super Bowl advertising, the largest crypto exchange in the United States is on top. Coinbase had splurged on Super Bowl advertising, setting a new high. When cryptocurrency trading platforms first featured on the star-studded Super Bowl commercials, they made headlines.

App store downloads decline

According to Apptopia, the exchange and investment site eToro also reported a drop in app store downloads in the week leading up to Sunday. Coinbase ranked second in Apple’s app store’s overall ranking of all applications. However, the ranking is dependent on the least known characteristics, which researchers say are based on download consumption and velocity. 

Coinbase became the most well-known bank

Coinbase debuted a minute-long commercial with a blank screen and a moving QR code, encouraging viewers to scan the mobile bar code for further information. In addition, new users who signed up within 48 hours of the ad appearing were eligible for a $15 Bitcoin award. Coinbase emerged as the best recognisable brand in the industry, according to Adam Blacker, vice president of insights at Apptopia.

“Once you make it to the top of the app store, it becomes this self-fulfilling prophecy,” Blacker tells the Seattle Times.

Owen Lau, an analyst at Oppenheimer & Co Inc., noted in his note.

“Although Coinbase is among the top crypto exchanges in the world. There was a lot of conversation about this advertisement on social media right after it was released. However, we believe Coinbase accomplished its goal of gaining widespread attention.”

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