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Paris Olympics poised to break NBC ad sales records
As anticipation builds for the opening ceremony of the 2024 Paris Olympics in July, U.S. broadcaster NBCUniversal is witnessing a resurgence in interest from major corporate sponsors in the prestigious global sporting event.
With fans expected to return to Olympic stadiums for the first time since the COVID-19 pandemic, NBCUniversal has already secured $1.2 billion in advertising for the Paris games and is on track to achieve a historic sales record in Olympic history.
NBCUniversal, owned by Comcast, made headlines when it secured broadcast rights through 2032 with a staggering $7.65 billion deal, the largest agreement worldwide for the Olympic Games.
According to Dan Lovinger, president of Olympic and Paralympic sales at NBCUniversal, ad spending from International Olympic Committee (IOC) sponsors has surged by 18% compared to the previous summer Olympics held in Tokyo in 2021.
NBC TV network.
Ad spending
This rebound in advertising expenditure marks a significant turnaround from recent years, during which IOC sponsors had reduced their ad spending with NBCUniversal.
Notably, IOC sponsors such as Visa, Toyota, and Procter & Gamble pay substantial sums, estimated at over $100 million, for the privilege of using the iconic Olympic rings in their marketing campaigns.
The resurgence in ad spending can be attributed to several factors, including Paris being the first Olympics to welcome spectators since the pandemic, as well as its more favorable time zone for U.S. audiences following three consecutive Olympics held in Asia.
Lovinger said the Olympics’ unique ability to provide advertisers with extensive reach and precise targeting, factors that continue to attract major brands to the event.
To adapt to evolving consumer habits, NBCUniversal has introduced innovative strategies, such as streaming every Paris event on its platform Peacock for the first time, offering advertisers new opportunities for engagement.
Digital advertising revenue for the Paris Olympics has already surpassed previous records, reflecting the growing importance of online platforms in reaching audiences. However, the shift towards digital has presented challenges, particularly as top IOC sponsors reduce their traditional TV ad spending.
To offset this trend, NBCUniversal has expanded its outreach to non-Olympic partners and embraced automated ad-buying technology.
