The Olympics are coming to a close but many top athletes who've attracted huge social media followings may have potential far off the ice or slopes and well after the games end. Gregory Galant is the Co-creator of The Shorty Awards and the CEO of MuckRack and joins Cheddar to explain the role of social media in this year's Olympics.
Galant explains that athletes have always been sponsored by brands, but now they have their own platforms to pursue deals. Instagram feeds and Twitter provide great platforms for fan engagement and brand engagement.
In terms of reacting to surprise Gold winners and viral Olympic moments, Galant says brands have learned to move a lot faster. Brands have real-time advertising teams that can jump on opportunities as they arise.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
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The U.S. labor agency is trying to force Starbucks to reopen 23 stores that it closed allegedly to discourage a nationwide union campaign
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