As published by the New York Times on 7/21/21
Written by Tiffany Hsu
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.
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.
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“You won’t find a single legacy media company out there that is not pushing their streaming capabilities for their biggest events. That’s the future of where this business is going.” - Jeremy Carey, Managing Director, Optimum Sports