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.
The sports world has been at the forefront of dealing with the pandemic ever since the NBA temporarily halted operations in March 2020 and opted to play in their Florida bubble. As the omicron variant and current COVID surge forces game postponements and player quarantines, how leagues manage to continue operations through the outbreaks could be a sign of what is to come for the general public. Dr. Robby Sikka, chair of the COVID Sports Society Workgroup and a former VP with the Minnesota Timberwolves, joined Cheddar's "Closing Bell" to talk about the ways in which the NBA, NHL, and NFL are innovating amid the disruptions.
Tom Shannon, Bowlero CEO, joined Cheddar to discuss the decision to bring the company to the New York Stock Exchange via a SPAC merger with Isos Acquisition Corporation. Shannon said one of the goals of the public offering is to expand operations internationally, noting that Bowlero has the potential to reach worldwide markets due to the sport's popularity. "Bowling is a global market, and I'll give you an example. In South Korea, there are three million league bowlers and 1,200 bowling centers in South Korea alone," he said.
Stefan Olander, Co-Founder of Omorpho, joins Cheddar Innovates to discuss how they are bringing innovation into athleticwear by creating 'gravity sportswear.'
This year on Black Friday, the National Basketball Players Association launched a traveling NBPA-branded holiday pop-up called 'NBPA 450 Gives.' This was a 14-day long experiential and digital activation showcasing the best gifts for this holiday season, featuring items from black-owned businesses to celebrate Google's black-owned Friday initiative. JD sat down with Brooklyn Nets player, Blake Griffin, who helped launch this initiative.
We're entering a brave new world of broadly legal sports betting. Over 30 states and Washington, DC, have legalized sports betting in the year and a half since the supreme court struck down the federal ban on the activity.
But legalization isn't a simple proposition. The federal law might be struck down but its still up to each state to decide whether to legalize sports betting, and answer a litany of questions that come with it. Should you include online gambling? How much should people be allowed to bet? Should there be limits on advertising for sports betting?
Darren Heitner, founder of Heitner Legal, and Daniel Wallach, founder of Wallach Legal, join None of the Above's "Business of Sports: The Year Gambling Took Over" special to discuss.
Carlo and Baker cover the latest data showing the Omicron wave has likely started, Pfizer's Covid pill, Jan. 6 and a box office rescue attempt courtesy of Spider-Man.
Allegiant Stadium in Las Vegas is slated to be the home of Super Bowl LVIII in 2024. The stadium was completed in July 2020 for a price tag of $1.8 billion.
