Why does ad time cost around 5 million for just one 30-second ad?

Ad time during major events, like the Super Bowl, costs around $5 million for a 30-second spot due to the massive audience reach and engagement these events attract. Advertisers are willing to pay a premium for the opportunity to showcase their brand to millions of viewers, as this can lead to increased brand awareness and sales. Additionally, the production quality and strategic planning involved in creating memorable ads contribute to the high cost of ad time.