The Summer Olympics kicked off less than a week ago but host network NBCUniversal reported that it is already breaking records.
The entertainment giant, which has held the U.S. broadcasting rights to the Summer Games since 1988, said it achieved the highest advertising revenue in history for its Olympic and Paralympic programming, though it did not break out specific figures. NBCUniversal previously stated it was on pace to surpass $1.2 billion in advertising sales for the 2024 Paris Olympics. Digital ad revenue also reached a new milestone, more than doubling that of the 2020 Summer Games in Tokyo, which were held in 2021 due to pandemic-related postponements.
More advertisers have flocked to the global sporting competition in Paris than past Summer Games in Rio and Tokyo combined. Among that crop, over 70% of advertisers are new to the occasion. Nearly $500 million in revenue is coming from first-time Olympic sponsors. NBCUniversal has also experimented with different formats for the latest Summer Games, including a commercial-free hour of programming that swapped conventional ad breaks for rotating sponsor logos.
“The 2024 Paris Games have delivered a uniquely powerful halo for brands at 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 innovated the advertising experience with authentic and inspirational creative that is leaving a lasting impact on consumers.”
Forecasters have expected the Olympics to provide a bump to the ad market as marketers exit a period hamstrung by inflationary pressures. Peacock, NBCUniversal’s streaming service, has received positive reviews for its Paris coverage and more tailored viewing experiences.
Stakes are high for Olympic sponsors that want to prove their brand marketing can still drive impact. Nike, mired in a sales slump, has used the Summer Games to deliver what it bills as one of its boldest brand expressions in years. The sportswear giant is running a gritty campaign about the ruthless qualities that turn elite athletes into winners.
Other advertisers have shown their softer sides, potentially responding to a moment when global consumer sentiment is low. Coca-Cola’s campaign is themed around the unifying power of hugs while commercials from Hyundai address the moments when kids question whether pursuing sports is their true passion.
Artificial intelligence (AI), the current shiny penny in tech, has also had a strong presence at the Summer Olympics. Not everyone’s a fan.
An ad from Google promoting its Gemini AI has received blowback on social media for what are perceived as tone-deaf qualities. In the spot, a dad wants to help his young daughter pen a letter to her favorite athlete, hurdler Sydney McLaughlin-Levrone. Rather than work through the note with a personal touch, he delegates those duties to generative AI, passing off a potential bonding moment to technology.
