US advertisers still believe in the Olympics

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 23, 2021, 5:47 PM GMT+0

Despite the pandemic still raging and The Olympics hitting multiple roadblocks, US advertisers are still excited about the event.

Three days before Olympic 2020’s opening ceremony, the Tokyo 2020 organising committee “didn’t rule out cancelling the games” if the coronavirus cases spiked. The committee has also significantly cut off spectators at the Games, with most venues, particularly in Tokyo, banning spectators altogether.

Because of pandemic-related concerns and racism-related Olympic controversies, major Japanese brands like Toyota are holding back their Olympic ads. However, US advertisers like Proctor & Gamble, Visa, Michelob Ultra and Oreo have continued to bid on campaigns around the Games.

NBCUniversal, which is broadcasting the Games in the US, reported earning more revenues this year than the 2016 Rio Games. “The American campaigns have been pretty much in traditional Olympics mode, but I think that’s a big mistake,” said Ron Goodstein, Marketing professor at Georgetown Business School.

Read the original article

[4 minute read]

Explore more data & articles