The Summer Olympics began less than a week ago, and NBCUniversal, the host network, has already reported record-breaking achievements. The entertainment giant, which has held the U.S. broadcasting rights for the Summer Games since 1988, announced that it has garnered the highest advertising revenue in history for its Olympic and Paralympic programming, though it did not provide specific figures. NBCUniversal had previously indicated it was on track to exceed $1.2 billion in advertising sales for the 2024 Paris Olympics. Additionally, digital ad revenue has reached a new high, more than doubling the revenue from the 2020 Tokyo Summer Games, which were held in 2021 due to pandemic-related delays.
More advertisers have flocked to the global sporting event in Paris than to the past Summer Games in Rio and Tokyo combined. Notably, over 70% of these advertisers are new to the Olympics, contributing nearly $500 million in revenue from first-time sponsors. NBCUniversal has also tried out new formats for the latest Summer Games, including a commercial-free hour of programming where traditional ad breaks were replaced with rotating sponsor logos.
“The 2024 Paris Games have provided a uniquely powerful opportunity for brands, reaching an incredible scale with a highly engaged and passionate audience,” said Mark Marshall, chairman of global advertising and partnerships at NBCUniversal, in a press statement. “Together, we have redefined the advertising experience with authentic and inspirational creative that is making a lasting impact on consumers.”
Forecasters have predicted that the Olympics would boost the ad market as marketers move past a period hindered by inflationary pressures. Peacock, NBCUniversal’s streaming service, has garnered positive reviews for its coverage of the Paris Games and its more personalized viewing experiences.
The stakes are high for Olympic sponsors aiming to demonstrate that their brand marketing can still make a significant impact. Nike, currently experiencing a sales slump, has used the Summer Games to launch one of its boldest brand campaigns in years. The sportswear giant is promoting a gritty campaign highlighting the ruthless qualities that turn elite athletes into winners.
Other advertisers have opted for a softer approach, possibly responding to a time of low global consumer sentiment. Coca-Cola’s campaign centers on the unifying power of hugs, while Hyundai’s commercials address moments when kids question whether pursuing sports is their true passion.
Artificial intelligence (AI), the latest buzz in tech, has also had a strong presence at the Summer Olympics, although it has not won over everyone.
A Google ad promoting its Gemini AI has faced backlash on social media for perceived tone-deafness. In the advertisement, a father wants to help his young daughter write a letter to her favorite athlete, hurdler Sydney McLaughlin-Levrone. Instead of working on the note together and adding a personal touch, he delegates the task to generative AI, missing out on a potential bonding moment with his daughter by relying on technology.
