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.
Austin Mock, College Football betting contributor for The Athletic, explains his strategy for selecting a winner in the national title game between Georgia and Alabama.
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Michael Jenkins gives his picks for the final week of the NFL regular season while Joe Osborne dishes out his insight for how to approach a week where some teams choose to sit out their star players. Meanwhile, Austin Mock explains his strategy for selecting a winner in the national title game between Georgia and Alabama.
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It's no secret tech giant Amazon has a mission of becoming a major player in sports media, and the company is poised to make progress on that goal in 2022. Amazon Prime Video will be the exclusive home to Thursday Night Football for the 2022-23 NFL season. In December, the New York Post reported that Amazon is in the beginning stages of developing studio sports programs, and hopes to soon have a full daily lineup of sports shows. Front Office Sports senior reporter A.J. Perez joined Cheddar News' Closing Bell to discuss.
The seven-time Pro Bowler Antonio Brown thrust himself into the spotlight again after an on-field meltdown against the New York jets that ended with him pulling off his jersey and exiting the field at MetLife Stadium, leading his Tampa Bay Buccaneers head coach Bruce Arians to say that Brown was "no longer a buc." Sports commentator and former quarterback Lester Ricard Jr. joined Cheddar's "Closing Bell" to discuss the troubled star's latest actions as well as his checkered past few years in and around the league. "About three or four years ago, Antonio Brown, his career was trending towards a Hall of Famer, one of the best wide receivers of all time," said Ricard Jr. "I don't know if he's self-imploding or whatever's going on with him." Ricard went on to speculate about a specific hit Brown may have taken years back he felt could have led to the current behavior.
Sports betting is going mainstream in the United States. Dozens of states have legalized it, California is set to do the same this year. Arizona, which legalized sports betting in September, set new national records for gambling in its first months. Daniel Graetzer, CEO of Maximbet, joins Cheddar News to discuss what's next for the booming industry.
There is a new player in the mobile app stock trading space.
Zingeroo recently announced a funding round of $8.5 million. The company says it aims to bring 'friendly competition' to stock trading, by literally breaking trading down into daily and weekly competitions between friends. Zingeroo also says it hopes its new approach can make trading more accessible, educational, and social than ever before. Zingeroo co-founder and CEO Zoe Barry joins Cheddar News' Closing Bell for more.
Back in July of 2021, the NCAA announced a new policy in favor of allowing student-athletes to be given the chance to gain income through endorsement deals as well as public appearances. The Name, Image, and Likeness policy have found great appreciation among athletes who now can grow their businesses without having to sacrifice their playing eligibility. However, some critics believe this new policy could cause some chaos in the locker room. Sports Reporter at the Wall Street Journal Laine Higgins, joined Cheddar to discuss more.
Chris Vannini, National College Football Reporter for The Athletic, joins Cheddar News' Closing Bell, where he breaks down the complications COVID-19 is having on college bowl season, with five games cancelled as of Thursday.
