The 2024 Paris Olympics is already proving to be a success for NBCUniversal, the U.S. rightsholder for the event. With still nine months to go until the Games, the live coverage of the Opening Ceremony is already sold out. This coverage will be aired on NBC and Telemundo, and streamed on Peacock. Although spots for primetime coverage are still available, the company is confident that they will be filled soon.
In addition to the Opening Ceremony, NBCUniversal has also sold out its halftime sponsorships for team sports such as basketball and soccer. They have also introduced a new format called “Prime Pods” for the 2024 Olympics, which has also been sold out. The Prime Pods format aims to bring more action and fewer ads to the viewers. On 13 weeknights during primetime on NBC, the biggest event of the evening will run commercial-free, except for a 60-second spot. This spot will be shown in a double box offer, meaning the event will appear in another box while the ad runs. This way, viewers can still be part of the action. The premium advertising spots will also be integrated into the broadcasts, as the studio announcers will mention the sponsors and the fact that the upcoming event will be commercial-free.
Jenny Storms, CMO of entertainment and sports for NBCU, believes that the setting of the 2024 Olympics in Paris aligns favorably with the demographics the company is trying to reach. Statistics show that Paris is one of the top three locations that Americans, especially Gen Z and Millennials, want to travel to. Adding to this momentum is the fact that the Eiffel Tower is the most Instagrammed place in the world. There is a huge consumer interest and energy surrounding the Games. Storms believes that the company’s marketing strategy and vision will complement the efforts of the Paris organizing committee.
NBCUniversal has been working on identifying their consumers to optimize their marketing strategy. They have been determining if consumers are cord-cutters or cable subscribers to drive maximum interest in the Games. The company has developed the ability to identify consumers and reach them at their location, regardless of their point of entry. This way, they can tailor their messaging to the specific preferences and viewing habits of each consumer. NBCU has had two years to build this capability within the company, in preparation for the largest consumption event across platforms, the Paris Olympics.
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Dan Lovinger, President of Olympic and Paralympic partnerships for NBCU, highlights the importance of the company’s digital offerings, particularly Peacock, in attracting new advertisers. Peacock will stream all events live during the 2024 Olympics. This means that the company can now reach a wider range of advertisers, as the cost to advertise on digital platforms is lower compared to traditional broadcast. Lovinger expects the number of advertising partners to increase from around 100 in previous Olympics to over 200 in the upcoming Games. He also predicts that Peacock will account for 20 to 25 percent of their total consumption.
Overall, NBCUniversal is capitalizing on the anticipation and excitement surrounding the 2024 Paris Olympics. The company has already sold out the live coverage of the Opening Ceremony and halftime sponsorships for team sports. The introduction of Prime Pods and the availability of digital streaming on Peacock have attracted new advertisers and expanded the company’s reach. With their carefully crafted marketing strategy and strong digital capabilities, NBCUniversal is well-positioned to make the most of this major sporting event.
