NBCUniversal (NBCU), the owner and operator of US national commercial broadcaster NBC, has revealed that it is projecting record advertising revenue for its coverage of the Paris 2024 Olympic Games.
The media giant is forecasting ad revenue above the $1.25 billion figure it generated across the Tokyo 2020 Olympics, a record figure for global Olympics broadcast ad revenue.
Several factors have made this possible, most notably the growth of NBCU’s OTT streaming service Peacock, an expansion of NBC’s content offering, which has grown substantially since the Tokyo Olympics (which took place in 2021 due to the Covid-19 pandemic) and has subsequently opened up greater avenues for sponsorship inventory that NBC can offer.
Every Olympic event is available to stream on Peacock, allowing NBC to keep up with the sheer volume of sporting content produced by the games in a way it never has before, expanding the broadcaster’s level of coverage beyond the more limited linear TV options, driving interest in the service and attracting fans of more niche sports that do not typically garner linear TV spots.
Time differential also has likely played a big factor. While Tokyo is between 13 to 16 hours ahead of the US, making for an adverse time difference for those who wish to watch events broadcast live in the country, the difference between France and the US is only between six and nine hours, making it easier for the general public to engage with the sporting event.
The presence of fans too at the games may play a role, with the COVID-enforced absence of crowds at Tokyo 2020 adversely affecting the atmosphere and viewer interest.
NBCU's global advertising and partnerships chair Mark Marshall stated of the projected revenue: “The 2024 Paris games have delivered a uniquely powerful halo for brands at an incredible scale with a highly engaged and passionate audience.
“We are proud to have secured the highest Olympic and Paralympic advertising in the history of the games, and are grateful to our advertisers for their partnership. Together, we have innovated the advertising experience with authentic and inspirational creative that is leaving a lasting impact on consumers.”
NBC holds the US rights to every summer and Winter Olympic Games through 2032, including the 2028 edition which will be held in the US, in Los Angeles.
If, as predicted, Paris 2024 on NBC breaks ad revenue numbers for the Olympics then a home edition in the US and all the interest and commercial value that will entail could see further records smashed in four years.
