Brands across the globe have jumped at the chance to spend millions of dollars for a few seconds of advertising today, as Superbowl LVIII marks the annual tradition of over-the-top TV ads.

But as costs continue to climb year-by-year –  it’s estimated companies like Coca Cola and Nike will spend $233,000 per second – researchers are looking in to the phenomenon of Superbowl advertising, and whether it’s actually really worth it.

Thinkerbell consumer psychologist Adam Ferrier talked to Julie-anne Sprague about the big day, and why businesses jump at the chance to spend so much.

“It’s not worth it for Joe’s Fish and Chip shop to spend $10 million on 30 seconds of advertising, but for a major company that’s trying to build a brand identity with the whole world, it absolutely is,” he said.

Press PLAY to hear more about the money behind the Superbowl