How a blackout at the Superbowl became a goldmine for advertisers

A silver lining lined with actual silver.

Like many in the UK, I followed last night’s Superbowl in the dark, via twitter, on a glowing matchbox-sized screen.

Despite an American wife and many patient explanations from my father-in-law, an instinctive understanding of American Football continues to elude me – and yet I still love watching it.

Strangely, this is the case even when the spectacle is transmuted from an extravaganza of vast men, cheerleaders and fireworks to a torrent of 140 character outbursts.

The reason why became clear at the opening of the game’s third quarter, when incessant chatter about Beyonce’s half-time show was cut off by an onslaught of tweets about blackouts, organisational chaos and pissed-off advertisers.

In the end, the 34-minute stoppage, during which half the lights in New Orleans’ 73,000-seat Superdome were off and broadcasts were severely disrupted, made for the most interesting part of the game – from a cultural standpoint at least.

Oddly enough, I’d seen the exact same thing happen before from the other side of the screen. In 2007, I was watching the Oklahoma State Cowboys annihilate Florida Atlantic at the Boone Pickens stadium in Stillwater, OK, when half the stadium lights went out at the start of the third quarter.

During the sixteen minute outage that followed, the sea of orange-shirted fans turned introspective, discussing the opening action of the second half and reflecting on the general cultural artillery backing up the home team; the grotesque foam mascots, the confetti cannons, the US infantrymen improvising a press-up competition in the centre of the field to keep people pumped up.

Last night’s half-hour twitterval had the same atmosphere, amplified by the global pool of participants. People who hadn’t even planned to care about the Superbowl were getting sucked in, contributing to a growing discussion of the event that had increasingly little to do with football.

While advertisers paying up to $4m each for 30 second slots may have been incensed at the disruption to begin with, those keeping an eye on twitter (which we can assume to be all of them, given the preponderance of hashtags in this year’s superbowl ads), would have very quickly spotted a sliver lining to the organisational cloud hanging over the stadium.

For in the absence of any actual sport, bored fans and football-agnostic twitter browsers alike were turning, amongst other subjects, to discussion of the year’s ads.

The advertisement hashtags, which might otherwise have lingered in the sidelines of the Ravens/49ers confrontation, were being traded thick and fast alongside Beyonce lyric puns, New Orleans jokes and references to every film ever containing a power outage as plot element. Savvy advertisers, like Audi and Oreo, jumped straight in and started making their own wisecracks.

In the end, this half-hour break to talk about the cultural architecture underpinning the football ended up giving marketers more bang for their buck than an uninterrupted game would have done.

I wouldn’t be surprised to find a blackout in the programme for Superbowl 48 – with its own sponsor, of course. Any takers?

By day, Fred Crawley is editor of Credit Today and Insolvency Today. By night, he reviews graphic novels for the New Statesman.

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Stability is essential to solve the pension problem

The new chancellor must ensure we have a period of stability for pension policymaking in order for everyone to acclimatise to a new era of personal responsibility in retirement, says 

There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company final salary pension, often a fairly generous figure, which also paid out to a spouse or partner on death.

That normality simply doesn’t exist for most people in 2016. There is much less certainty on what retirement looks like. The genesis of these experiences also starts much earlier. As final salary schemes fall out of favour, the UK is reaching a tipping point where savings in ‘defined contribution’ pension schemes become the most prevalent form of traditional retirement saving.

Saving for a ‘pension’ can mean a multitude of different things and the way your savings are organised can make a big difference to whether or not you are able to do what you planned in your later life – and also how your money is treated once you die.

George Osborne established a place for himself in the canon of personal savings policy through the introduction of ‘freedom and choice’ in pensions in 2015. This changed the rules dramatically, and gave pension income a level of public interest it had never seen before. Effectively the policymakers changed the rules, left the ring and took the ropes with them as we entered a new era of personal responsibility in retirement.

But what difference has that made? Have people changed their plans as a result, and what does 'normal' for retirement income look like now?

Old Mutual Wealth has just released. with YouGov, its third detailed survey of how people in the UK are planning their income needs in retirement. What is becoming clear is that 'normal' looks nothing like it did before. People have adjusted and are operating according to a new normal.

In the new normal, people are reliant on multiple sources of income in retirement, including actively using their home, as more people anticipate downsizing to provide some income. 24 per cent of future retirees have said they would consider releasing value from their home in one way or another.

In the new normal, working beyond your state pension age is no longer seen as drudgery. With increasing longevity, the appeal of keeping busy with work has grown. Almost one-third of future retirees are expecting work to provide some of their income in retirement, with just under half suggesting one of the reasons for doing so would be to maintain social interaction.

The new normal means less binary decision-making. Each choice an individual makes along the way becomes critical, and the answers themselves are less obvious. How do you best invest your savings? Where is the best place for a rainy day fund? How do you want to take income in the future and what happens to your assets when you die?

 An abundance of choices to provide answers to the above questions is good, but too much choice can paralyse decision-making. The new normal requires a plan earlier in life.

All the while, policymakers have continued to give people plenty of things to think about. In the past 12 months alone, the previous chancellor deliberated over whether – and how – to cut pension tax relief for higher earners. The ‘pensions-ISA’ system was mooted as the culmination of a project to hand savers complete control over their retirement savings, while also providing a welcome boost to Treasury coffers in the short term.

During her time as pensions minister, Baroness Altmann voiced her support for the current system of taxing pension income, rather than contributions, indicating a split between the DWP and HM Treasury on the matter. Baroness Altmann’s replacement at the DWP is Richard Harrington. It remains to be seen how much influence he will have and on what side of the camp he sits regarding taxing pensions.

Meanwhile, Philip Hammond has entered the Treasury while our new Prime Minister calls for greater unity. Following a tumultuous time for pensions, a change in tone towards greater unity and cross-department collaboration would be very welcome.

In order for everyone to acclimatise properly to the new normal, the new chancellor should commit to a return to a longer-term, strategic approach to pensions policymaking, enabling all parties, from regulators and providers to customers, to make decisions with confidence that the landscape will not continue to shift as fundamentally as it has in recent times.

Steven Levin is CEO of investment platforms at Old Mutual Wealth.

To view all of Old Mutual Wealth’s retirement reports, visit: products-and-investments/ pensions/pensions2015/