The Super Bowl made scarcity its superpower

What if you threw a party and only 125 million came?

This year’s Super Bowl pits two low-wattage teams in a rematch from 11 years ago. It won’t come as a shock if this year’s broadcast, on NBC, sees a drop from last year’s record ratings.

The good news for all involved: Last year’s game attracted nearly 128 million TV viewers, the most-watched program in US history. No other telecast garnered even half that audience in 2025. Anything less than a catastrophic drop would likely...