Ad sales for the 2024 Summer Games are “pacing well ahead” compared to the pandemic-delayed Tokyo event
The GIST: Move over, Emily — the Olympics are hitting Paris in style. On Tuesday, NBCUniversal (NBCU) revealed ad sales for the 2024 Summer Games are “pacing well ahead” compared to the pandemic-delayed Tokyo event, signaling the Olympics’ enduring appeal.
The details: Gold-medal level returns are in the cards for NBCU. With less than 16 months until the Games begin, ad spend for Paris is much higher than at this point for Tokyo, which ultimately brought the broadcaster over $1.2B in ad sales to 120 total advertisers (including 80 newcomers).
- Paris is likely outpacing Tokyo — and less-than-ideal ad spend forecasts — thanks to a favorable timezone and the post-pandemic setting. It also can’t hurt that sportswashing isn’t a Paris storyline, unlike the 2022 Winter Games in Beijing.
The context: A recent study provides insight on the unique perks the Olympics offer brands. Partners enjoy 39% more relevance, 49% higher consumer loyalty and 54% greater differentiation than competitors who skip the Games. The impact carries on post-Games, when consumer preference for Olympic sponsors grows 7% and loyalty jumps 40%.
- The increased brand affinity translates into serious revenue opportunities — Olympic partners score 40% higher pricing power than their competitors after the Games. Making bank.
Zooming out: As we covered in February’s Sports Biz Breakfast, sports still deliver for advertisers on broadcast because they’re appointment viewing. The Olympics also provide a high-profile chance for brands to align with female athletes (who dominate the Summer Olympic podium) and women’s sports’ diverse consumer base along the way. Allez!