Super Bowl commercials are more expensive than ever. But for advertisers, they're a better deal than ever.

NBC — which is broadcasting this year's game — announced last week that it is sold out of Super Bowl ads, with multiple 30 second spots having sold for a record $7 million each.

Why would advertisers spend $7 million on one ad? Because it's the Super Bowl — a broadcast that is still watched by roughly 100 million viewers, even as ratings for some other big sporting events are falling.

Nothing in the media world comes close to getting companies the exposure that the Super Bowl can. That's increasingly important as the media landscape grows more fragmented, according to Patrick Crakes, a former Fox Sports executive turned media consultant.

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