The true cost of a Super Bowl commercial is actually much higher
Five million bucks is a hell of a high price just to get a single ad played on the air, but you have to consider what other costs are associated with that. For one, shooting a Super Bowl-caliber commercial is expensive. When you think of the celebs who need to get paid, the visual effects necessary to make it particularly memorable, and all the other elements needed to help them appear "big budget" it's no surprise that the average cost to produce one is well over $1 million.
In recent years, many advertisers have spent even more to market the ads ahead of the game, teasing them and finding any which way to engage would-be viewers online and elsewhere. According to one marketing executive, it's not unusual for a brand to dedicate an additional 25% or more of what they paid for the slot just to market it (this year, that'd be at least $1.25 million).
That means the true cost of the final installment of Bud Light's Dilly Dilly trilogy, the star-studded Amazon Alexa ad, the McDonald's-shading Wendy's commercial, and most other spots you see on Sunday night likely cost the brand behind them nearly $10 million all-in. A multinational corporation rolling in dough may not even blink at that, but it's still a princely sum.