The So What from BCG
The Olympics: A Brand’s Golden Opportunity
Jul 31, 2024
Dan Wald, the global lead of BCG’s sports business, dives into the unique marketing landscape of the Olympics. He explores how the Games can effectively capture mass attention in a fragmented world. Wald discusses the emotional connections brands can forge with audiences through compelling storytelling. He also examines the financial dynamics, such as media rights and sponsorships, that align brands with the Olympic identity. The future of sports business is also highlighted, focusing on emerging markets like India and China.
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Quick takeaways
- The Olympics generate significant revenue through broadcasting and sponsorship, providing brands with a rare opportunity to engage a mass audience.
- Emotional storytelling and human interest narratives enhance viewer engagement, broadening the appeal to sponsors and diverse audience segments.
Deep dives
Revenue Generation from the Olympics
The Olympic Games generate substantial revenue, surpassing $7.5 billion during the recent cycle from 2017 to 2021, primarily through broadcasting and sponsorship rights. Major corporations view the event as an opportunity to connect with a mass audience, something increasingly rare in an age dominated by individual device consumption. Broadcasting rights, particularly a $7.6 billion contract with NBC in the U.S., represent a significant portion of funding for the Olympics. This profitability also includes extensive sponsorship deals, with companies eager to associate themselves with an event that embodies excellence and international cooperation.
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