As the Tokyo Olympics 2020 games are approaching closer, sports companies from different regions are betting high to live telecast each and every moment of the sporting affair. United States popular sports network, NBC Sports is topping the list. Advertising is the mainstream revenue for any sports channel during the live telecast of any major event, where once again, NBC Sports crosses $1B Sales Tokyo Olympics through advertising sales. NBCU has claimed that it has already sold advertising rights worth more than $1Billion for the upcoming Tokyo Olympic Summer Games, scheduled to begin on 24th July 2020.
NBC Universal has big plans ahead of the Olympics 2020 events to broadcast more than 7000 hours of live coverage across various cable, digital and social streaming platforms. Also, the Parent Company Comcast will be launching a new streaming service Peacock in the month of April, which is expected to go live with major Olympic Content.
With regard to the Advertisement sales, NBC Sports Group Executive Vice President Ad Sales, Dan Lovinger commented “ Half of the advertisers signing up are new summer Olympic Sponsors. This signifies the Olympic movement continues to thrive and that there’s broad interest in the games”. (Also Read: Gymnast Aly Raisman Will Not Participate in 2020 Summer Olympics)
He expects the Tokyo Games 2020 events will drive more than 200 million viewers. This is for the first time, NBCU has launched a tool for the advertisers – the Olympic ad engine, that will help them to have their content more appealing.
Also, there is a huge demand for the upcoming Sporting event Super Bowl 2, where Fox Sports managed to sell all the advertising spots for a whopping price of $5 million to as much as $5.6 million for a 30-second spot. CBS Sports also valued its advertisement spot for Super Bowl coverage between $5.1 and $5.3 million. (Related Content: Russia Banned From All Global Sports Events including Olympics 2020)
To possess the broadcasting rights for the Tokyo Summer Olympics 2020 games, NBC remunerated $4.38 billion in 2011. The company extended the agreement until 2032, by allocating payment of $7.7 billion. But with the challenging media environment, NBC is witnessing a growing deterioration in its viewership for all live sports content. It also noted a downfall of 7 percent in its advertising revenue in the Pyeonchang Olympic games, as compared to the 2014 Sochi Winter Olympic event.