As the Paris Olympics officially kicks off today, the 2024 edition has reported a staggering 70% surge in advertising and sponsorship revenue compared to the Tokyo Olympics.
This substantial growth underscores the Olympics’ enduring appeal as a platform for brands to reach a vast audience. The event’s ability to captivate global attention has driven advertisers to invest heavily in securing prime advertising slots and sponsorships.
With a combined reach of 250 million viewers on JioCinema and Sports18, Viacom18 has attracted a host of high-profile sponsors for the Paris Olympics. SBI and JSW Group are the co-presenting sponsors, while Thums Up and Herbalife have come on board as associate sponsors. Other prominent partners include AMFI, MRF, Bacardi Martini, Punjab National Bank, Aditya Birla Capital, and Reliance Foundation.
Commenting on the same, Siddharth Sharma, Head of Content, Viacom18 Sports, said, “The response from the advertisers has been great. The industry sources state that the upcoming event has witnessed an increase of 70% in advertisements and sponsors as compared to the last Olympics. This is a good sign that IOA has closed more sponsors this year as compared to last year.”
The increased interest from advertisers can be attributed to several factors, including the anticipated rise in viewership, the economic recovery post-pandemic, and the unparalleled opportunity for brand visibility.
Earlier, the broadcaster had announced an unprecedented viewing experience with 20 concurrent live streams on Jiocinema, including 17 sport-specific feeds and three dedicated channels focused on the Indian contingent, global highlights, and women athletes. Viewers opting for the India feed can immerse themselves in the Olympic Games in English, Hindi, Tamil, and Telugu, following the Indian contingent’s performances.
India’s strong contingent of 117 athletes, led by the Olympic gold medalist Neeraj Chopra, is expected to ignite a wave of national pride and further boost viewership.