After a year of delays, the Tokyo Olympics is finally here.
But the growth in streaming is expected to lower broadcast viewership numbers. About 27.5 million people tuned into the 2016 Rio Olympics each night during Primetime, and around 86 million households had a cable or satellite subscription that year. This time around, the Tokyo Olympics are at least 13 hours ahead of the U.S.' main broadcasting hours, and 11 percent fewer households still maintain their cable or satellite bundles. On top of this, NBC Sports is saving the live feed of several popular sports, including mens' and women's gymnastics and track and field, for its streaming service Peacock in order to drive viewers to the platform.
But despite the protests and concerns over safety during COVID-19, advertisers haven't stopped backing the Games. While sponsor Toyota announced it would pull its ads running in Japan during the Olympics, it is still moving forward with its plans in other countries. In fact, NBC Sports said it has at least 120 advertisers this year, 80 of which are brand new. It is expecting to bring in more than $1.2 billion in ad revenue, which was the last benchmark set by the 2016 Rio Olympics.
"I think it shows a sensitivity to their specific region and a respect, which the Japanese people are known for, so I think it was the right thing to do," said Influencer marketing agency Takumi CMO Kristy Engels about Toyota.
"When you look at the other advertisers out of the major ad sponsors, no one else has pulled out to date so they're all sticking with their existing programs so you'll still see the Toyota ads running here in the U.S.," she added.
Paul Kermizian, the co-founder of the popular arcade bar, used to collect vintage games as a hobby. By combining that passion with his love of craft beer, he created a multi-location business.
Paul Kermizian, co-founder of the popular Barcade, says vintage games are like a "work of art." The arcade/bar combines 80s games, like Street Fighter and Pacman, with craft beer.
The gold medal-winning swimmer says she could only talk about the issue because she stands on the shoulders of Olympic swimmers Michael Phelps and Allison Schmitt, who took the lead in breaking the silence.
The five-time gold medal-winning swimmer is already preparing for the next Summer Games. She trains for up to four hours in the pool every day and has to watch everything she eats, she told Cheddar Thursday.
The one-time Olympic gold medalist, who made history taking home a medal at this year's Games, told Cheddar that there's probably no way her body can "withstand another four years."
When former ESPN President John Skipper resigned in December, shockwaves rippled throughout the sports network. The Hollywood Reporter's James Andrew Miller broke details of the alleged cocaine extortion plot behind the scenes and joined Cheddar to discuss the channel's uncertain future.
One of Nike's top executives is stepping down over misconduct allegations. Airbnb is making it easier for people with disabilities to find rentals on its platform. We dive into the Theranos fraud scandal with the Wall Street Journal reporter who initially reported that something was off with the start-up blood testing company. And Tim Stenovec chats with Neil Patrick Harris about season two of his Netflix show "A Series of Unfortunate Events."
The Olympic gold medallist told Cheddar that, despite reports that the Winter Games had record low ratings, NBC was happy with the results. He said viewers have just changed how they access sports.
The fantasy sports platform is already building out a product that would allow sports betting, pending a decision from the Supreme Court, says DraftKings CEO Jason Robins.
Rex Tillerson is out as Secretary of State and CIA director Mike Pompeo is in. President Trump issued an executive order blocking Broadcom's hostile takeover bid for rival chipmaker Qualcomm. Olympic gold medalist and author Scott Hamilton joins us to talk about his figure skating career and his new book. Plus, Kristen Scholer sits down with Brooklyn Decker and Whitney Casey at SXSW to talk about their start-up Finery.
