Talk about a pricey splash! This year’s Super Bowl ads are breaking records, with some 30-second spots reportedly going for a jaw-dropping $8 million. Fox, the network broadcasting the big game, originally aimed for $7 million per slot but ended up surpassing even that eye-popping figure.

Why the surge? Corporate interest has been sky-high, with more than 10 advertisers shelling out the hefty sum to secure their place during the most-watched event in the U.S. Even though a few companies initially backed out of their ad commitments, Fox had no trouble finding eager replacements ready to pay top dollar.

For those who did step aside, their ads will still air—just not during the Super Bowl. Instead, they’ll pop up in other Fox programs. But with so many businesses vying for a spot, Fox had no problem hiking the price to $8 million, setting a new benchmark for future games.

Big names like Pepsi, Anheuser-Busch InBev, Squarespace, and Stellantis are already on the list of advertisers, with more expected to reveal their plans as the February 9 showdown approaches. Clearly, when it comes to the Super Bowl, the stakes—and the prices—are higher than ever.