(CBS News) Super Bowl Sunday reigns as one of the most-watched events in broadcast television history and CBS President and CEO, Leslie Moonves -- who will be inducted into the television hall of fame in March -- spoke with the "CBS This Morning" hosts about the business of broadcasting the Super Bowl.
In the the span of CBS' Super Bowl coverage, New Orleans' Jackson Square has housed 15 shows covering six divisions of the broadcast company, according to Moonves.
"It's become a national holiday. It is up there with Christmas and Thanksgiving of America, where everybody gets together and they celebrate," he said.
At nearly $4 million per 30-second spot, CBS has sold every commercial time available. In the evolving marketing landscape, Moonves said that there's a reason advertisers still pay so much money to have one of the coveted spots.
"It starts out with the audience being a huge number but Super Bowl commercials get so much attention," he said. "Which are the best, which are the worst, they're written about for days before, days after. There's a residual effect on them."
For more from Moonves on game day coverage and the business behind it, watch the video above.