Skipping the Olympics Is ‘Not an Option’ for Many Advertisers

The Olympics have long been an almost ideal forum for companies looking to promote themselves, with plenty of opportunities for brands to nestle ads among the pageantry and feel-good stories about athletes overcoming adversity — all for less than the price of a Super Bowl commercial, the New York Times reported. But now, as roughly 11,000 competitors from more than 200 countries convene in Tokyo as the coronavirus pandemic lingers, Olympic advertisers are feeling anxious about the more than $1 billion they have spent to run ads on NBC and its Peacock streaming platform. Calls to cancel the more than $15.4 billion extravaganza have intensified as more athletes test positive for COVID-19. The event is also deeply unpopular with Japanese citizens and many public health experts, who fear a superspreader event. And there will be no spectators in the stands. “The Olympics are already damaged goods,” said Jules Boykoff, a former Olympic soccer player and an expert in sports politics at Pacific University. “If this situation in Japan goes south fast, then we could see some whipsaw changes in the way that deals are cut and the willingness of multinational companies to get involved.” Panasonic, a top sponsor, will not send its chief executive to the opening ceremony. Neither will Toyota, one of Japan’s most influential companies, which also delivered a blow to the Games on Monday when it said it had abandoned its plans to run Olympics-themed television commercials in Japan. Read more.

Location