If you're like me, your bracket is already busted just one weekend into the tournament. The good news is that it's not too late to think about how investors can profit from the tournament. Here are three companies that have gotten March Madness right.
CBS (NYSE:CBS) has finally gotten March Madness right. Every game is available for most cable subscribers since the company partnered with Time Warner in 2011 to provide coverage, and millions of people now know where they can find TruTV. Best of all, apps for Android and iOS are making it easy to watch multiple games at the same time.
CBS was criticized for years for flipping back and forth between games, not leaving the control to the viewer. Now, we can watch any game at home or on the go. I'm finding it difficult to find flaws in either television or app offerings, which may be a first for CBS.
Buffalo Wild Wings
Wings, beer, and March Madness should be Buffalo Wild Wings' (NASDAQ:BWLD) new slogan. The company signed a deal with CBS and Turner Sports to be the "official hangout" of March Madness, which has led to all of those commercials we've seen this year.
I'm not sure what an "official hangout" is, but Buffalo Wild Wings has long been the unofficial hangout of sporting evens. March Madness just highlights everything the company does right, from the atmosphere, to food, to all of those TVs.
Having a Bud Light during March Madness is standard operating procedure for many people. The company also seems to monopolize advertising space this time of year. No matter where you go, you can't get away from Anheuser-Busch (NYSE:BUD).
A core part of Anheuser-Busch's strategy is out-advertising rivals, and there are a few events where the company puts big bucks behind ad spending. March Madness is at the top of that list, along with the Super Bowl, two events dominated by Bud.
Foolish bottom line
These are three companies getting March Madness right, and it's a lucrative time to be dominating college basketball. I think CBS has finally figured out how to do sports with the combination of streaming and television coverage. That may be the greatest takeaway from this year's March Madness.
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Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Buffalo Wild Wings. The Motley Fool owns shares of Buffalo Wild Wings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.