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.
BetMGM Host Olivia Harlan Dekker joins Cheddar Bets to talk about lessons learned from this year's NCAA Tournament and to share which teams have the best value going forward.
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Emmanuel Acho joined Cheddar News to talk about his new book "Illogical: Saying Yes to a Life Without Limits." The former NFL player, current broadcaster, and host is on a mission to help people see beyond the goals that they have set for themselves. “People say 'what is being illogical?'" he said. "To me, it's believing it is so even when it's not so — so that it can be so."
Adidas is now the first major sports brand to create a program for paying college athletes. The new "name, image and likeness" network will allow more than 50,000 students across NCAA Division 1 schools to become paid spokespeople for the brand. Thilo Kunkel, Associate Professor and Director of Sport Industry Research Center at Temple University, tells us why this new program is only the beginning of an exciting time for student athletes.
Sports betting has boomed over the past year; but at the same time, sports betting stocks have not been so hot. Now, some sports betting brands are starting to rethink how to spend their money, especially when it comes to ads. It will come after online sports betting brands spent more than $320 million on advertising in 2021, up 38% from 2020, per MediaRadar. Brendan Coffey, sports finance reporter for Sportico, joins Cheddar News' Closing Bell to discuss.
Rowing-machine maker, Hydrow, raised $55 million in Series D funding round, led by Constitution Capital. Hyrdow offers a connected rowing machine that costs $2,495. The company's funding round comes as the at-home fitness industry is facing some challenges, due to many consumers returning to gyms after working out at home during the pandemic. Bruce Smith, founder & CEO of Hydrow, joined Cheddar News' Closing Bell to discuss.
WNBA star Sue Bird is back with the Seattle Storm after announcing her retirement last year and spoke to Cheddar about taking a pay cut to help her team win, issues around gender equity in sports, and partnering with beer brand Corona on sweepstakes that will allow fans to win a limited edition Corona fridge with space to display sneakers. "I love whenever you can partner with a company that you A) enjoy," she said. "It's not that ridiculous to see me with a Corona in my hand. You're not supposed to say that as an athlete, but it's true."
Turkish media reports say a second superyacht belonging to Chelsea soccer club owner and sanctioned Russian oligarch Roman Abramovich has docked in a resort in southwestern Turkey.
Ben Strauss, sports and media reporter at the Washington Post, joins Cheddar News to recap round two of the NCAA Men's Tournament and what we can expect heading into the Sweet 16.
March Madness kicked off this month as more and more states are legalizing sports betting — and some major upsets almost immediately busting many a bracket. Jay Croucher, the director of trading at the sportsbook PointsBet, joined Cheddar News to talk about the tournament and the current top picks. "There's not too much difference in terms of the busiest days of the year between the Super Bowl and the first day of March Madness," he said.
The NCAA tournament kicks off this week, so it's about that time to finalize your march madness brackets if you haven't already, and decide where to call the upsets. Iain MacMillan, senior editor at MacMillan, joins Cheddar News to discuss.
