This study investigates whether movie trailer release during the Super Bowl affects revenue and the value of promoted movies. We compare the revenue of Super Bowladvertised movies and non-Super Bowl-advertised movies. Results show that Super Bowl-advertised movies generate more revenue than non-Super Bowl-promoted movies based on revenue comparison between Super Bowl-advertised movies and their closest non-Super Bowl-advertised movies from 2004 to 2008. An event study is used to examine whether movie trailer release during the Super Bowl influences the value of individual movies and movie casts, including directors, actors and actresses. The result indicates that movie trailer release during the Super Bowl has a favorable impact on the value of movie, but little effect on the cast. This study offers a rationale for ad expenditure during the Super Bowl by investigating the financial impact of movie trailer release during the Super Bowl.