NBCUniversal (NBCU), holder of US rights for the upcoming 2024 Paris Olympics, has already secured $1.2 billion in revenue from selling advertising slots for the major event.
NBCU’s president of Olympic and Paralympic partnerships, Dan Lovinger, has said that Paris 2024 is on track to break a record in terms of the most advertising revenue generated by the media giant during an Olympics. That record – $1.25 billion – was set at the Tokyo games in 2021 (delayed by a year from their intended slot because of the Covid-19 pandemic).
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Lovinger said: “We are highly confident that we will set a new record in revenue.”
He also stated that of the Paris 2024 advertising inventory sold, $350 million of that has been bought by first-time Olympic advertisers.
Both the opening and closing ceremonies are completely sold out, across both NBCU’s linear and digital platforms, while it has been reported that slots during major events (in sports such as soccer and basketball) are also selling fast.
Comcast-owned NBCU holds live Olympic broadcasting rights in the US in a deal worth $7.65 billion running through the 2032 games in Brisbane, Australia, that was unveiled in May 2014.
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By GlobalDataFor the first time in Summer Olympics history, all Paris 2024 events will be aired live on the network’s Peacock streaming service, as well as its NBC Sports channels.
Peacock currently has in the region of 31 million subscribers, an uptick of 55% from where its subscription levels stood during the Tokyo games three years ago.
On that front, Lovinger has said that digital advertising revenue for Paris 2024 has already surpassed that generated by NBCU at any previous Olympics.
Lovinger also commented: “Very few properties can help (brands) build reach and know exactly where their advertising is running. That is why the Olympics continues to garner support from major advertisers.”
He added that since the Tokyo games, when the Covid-19 pandemic caused some traditional Olympic broadcast partner brands to forgo buying advertising slots, there has been an “unquestioned resurgence of interest.”
Lovinger initially made comments on how Paris 2024 ad sales were trending favorably in comparison to those for the Tokyo games, last October.
The Paris Olympics will also be held during more favorable time zones each day than was possible during Tokyo.
Indeed, Tokyo 2020 ended up bringing in the smallest audience recorded for a summer games since NBCU began broadcasting the event in 1988.
At Paris 2024, meanwhile, Peacock will stream every event of every sport, including all 329 medal events. The platform will also carry full-event replays, curated video clips, exclusive original programming, and other content.
For its linear network, meanwhile, NBCU will show at least nine hours of daytime programming – more than any previous Olympics – featuring that day’s most popular events, such as gymnastics, swimming, and track and field.
After its daytime coverage, NBCU will deliver a primetime show each night with a three-hour recap of competitions, moments, and stories from the day’s events.
The Paris 2024 Olympic Games will take place between July 26 and August 11.
