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.
According to The Wall Street Journal, four U.S. gymnasts, Simone Biles, Aly Raisman, McKayla Maroney, and Maggie Nichols, penned a letter to Congress asking them to break up the U.S. Olympic & Paralympic Committee board of directors for allegedly turning a blind eye to the sexual abuse committed by team doctor Larry Nassar.
The Drone Racing League kicked off its 2021-2022 world championship season this week. Spanning across 14 different locations over the course of the year, 12 of the world's best drone pilots will be racing against each other to bring home the title. Drone racing has grown in popularity over the past year, with the Drone Racing League seeing an uptick of nearly 200 percent average viewership, 90 percent in virtual drone racing participation and 60 percent fanbase growth over social media. Rachel Jacobson, President of the Drone Racing League, discusses the future of the sport and why she thinks drone racing will soon be on par with traditional sports.
Bill Enright, Editorial Lead for Gambling and Fantasy Content at Sports Illustrated, shares his insight into the strategy behind betting on NFL futures, such as who will win the Super Bowl or MVP award.
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Jeff Stoneback, Director of Trading at BetMGM, discusses his betting insights for Super Bowl LVI futures, and says a pair of NFC East teams could make some noise come playoff time.
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The final Grand Slam tennis tournament of 2021 will be lacking some of its biggest stars including Venus and Serena Williams, Roger Federer, and Rafael Nadal. However, with legendary names missing from the court, it could provide an opportunity for future superstars to shine. Jon Wertheim, a senior writer at Sports Illustrated, joined Cheddar to discuss the fallout from the cancellations. "This is tennis' version of the NBA after [Michael] Jordan," he said. "Some Kobe [Bryant] or some LeBron [James] will come along, and we'll have new champions to cheer for."
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