Delayed Olympics Risks Turning Into a Giant Advertising Bust
- Local sponsors paid $3.3 billion for Tokyo Olympics exposure
- Pandemic also seen having impact on broader marketing message
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The 2020 Tokyo Olympic Games are now officially delayed by as much as a year, leaving hundreds of companies around the world to recalibrate their plans for the world’s biggest marketing event.
It won’t be easy. Businesses pay billions of dollars to get their brands and products in front of 7.8 million ticket holders at venues, as well as 4 billion-plus television and online viewers. Now, their promotional plans are facing disarray. With the virus slashing into sales and profits, there’s also a very real risk that some companies may pull out altogether -- or no longer be operating.