NBC and LA 2028 strike innovative commercial partnership
By Jonathan Rest
NBCUniversal, the US media giant that is home to the Olympic Games in USA, and LA 2028, the organising committee of the 2028 Olympic Games in Los Angeles, today announced an innovative partnership covering all aspects of commercial inventory.
The agreement runs from 2021 until 2028 and essentially packages commercial time on all NBCUniversal's platforms with opportunities to sponsor Team USA through to the home games, the first summer edition to be staged in the country since Atlanta 1996.
The partnership will be led by Linda Yaccarino, chair of advertising and partnerships at NBCUniversal, which paid $7.75 billion for rights to broadcast the Olympics from 2022 through 2032, and Casey Wasserman, chair of LA 2028.
NBCUniversal will collaborate with US Olympic and Paralympic Properties, the joint venture formed between LA 2028 and the US Olympic Committee, to ensure that the two organisations do not compete against each other for funding in the run-up to the games, to build a sales team.
It covers rights to the LA 2028 games and Team USA’s participation in the Olympic and Paralympics at Beijing 2022, Paris 2024, the winter games in 2026 (in either Stockholm or Milan) and Los Angeles 2028.
The idea is that the sponsorship packages for Team USA will become more valuable, because they will include advertising time on NBC's Olympics-based programming.
In a statement, the two parties said that, through this new alliance, "marketers will now have a single point of entry to create a massive, cross-platform Olympic and Paralympic partnership in the United States. Brands will have the ability to participate in all aspects of the Movement with access to IP rights, product marketing, local activation, and NBCUniversal’s comprehensive, multi-screen coverage of the Games, for the next decade."
Yaccarino said: “This partnership between NBCUniversal and LA 2028 is a true first for the industry, and gives marketers the opportunity to make an unrivalled economic and cultural impact. Together, we’re building what’s never been available before—the chance to be an exclusive partner of a monumental global movement for the next decade, culminating with the first Summer Games in the US in more than three decades.”
Wasserman added: “At no other time in Olympic and Paralympic history have the stakes been higher, and yet more rewarding. We are at an inflection point in the sports, lifestyle and live event business that demands a complete reimagining of the model and approach to embracing and involving marketers.”