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.
Cleveland’s Major League Baseball team finally has a new moniker, the Guardians. Formerly known as the Indians, the organization made a change to the team name after years of public scrutiny and claims of appropriation of Native American culture. Cheddar’s Hena Doba and Baker Machado provide some additional details into the name change.
Here are your Need2Know stories for Tuesday June 7, 2022:
Today, voters head to the polls for primary elections in California, Iowa, Mississippi, Montana, New Jersey, New Mexico, and South Dakota.
Senator Joe Manchin said he would support raising age requirements for gun purchases to 21. Manchin told CNN he also "wouldn't have a problem looking at" a ban on AR-15 assault rifles.
Meanwhile, five players on the Tampa Bay Rays roster opted not to wear a patch added to its uniforms intended to celebrate pride month.
Shaheen Holloway, fresh off leading Saint Peter's on an improbable Elite Eight run, says on Closing Bell that he is looking to take his alma mater Seton Hall to new heights this coming season as head coach. Holloway also provides his insight on the NIL era in college athletics - while he's happy for the players, he also considers the current system 'scary' because more rules and regulations need to be in place.
Los Angeles Rams wide receiver Cooper Kupp is partnering with eye-drop brand Pataday to help those struggling with allergies — such as himself. The Super Bowl LVI MVPjoined Cheddar News to discuss his own struggle with seasonal allergies. “It's right when football's starting back up, I feel like I get so excited to finally be back playing the game, and then, you know, spring comes around and completely knocks me out," he said.
Jill Gregory, EVP & General Manager of Sonoma Raceway, joins Cheddar News' Closing Bell, where she discusses how next weekend's NASCAR slate will be ramped up, with fans attending at full capacity, and how the venue's road course will give both drivers and fans a unique experience.
