The Paris 2024 Olympics have established new standards, not only in athletic achievements but also in global brand collaborations. Sponsorship revenues are projected to hit $1.34 billion, marking an impressive 60% rise compared to the Tokyo 2020 Olympics. This surge in revenue highlights the interest from brands aiming for global exposure and a connection with the Olympic ideals of excellence and unity. Warner Bros. Discovery’s streaming platforms saw more viewers during the first two days of the Paris Games than the entire Tokyo Olympics.
Dory Ellis Garfinkle, the Chief Marketing Officer at brand strategy firm Siegel+Gale, referred to Paris as a “comeback Olympics” for advertisers, noting a 300% increase in brand searches during the opening ceremony compared to Tokyo.
Sponsorship Overview
The Games attracted a broad spectrum of sponsors, classified into Worldwide Partners and Premium Partners:
Worldwide partners list:
Note: The contract validation period may differ between brands with the International Olympics Committee (IOC).
|
Company name |
Sector |
Investment (USD) |
Note |
|---|---|---|---|
|
Airbnb |
Accommodation |
$500M |
|
|
Alibaba |
Cloud services and e-commerce |
$800M |
|
|
Allianz |
Insurance |
N/A |
|
|
Bridgestone |
Tires |
$200-250M |
|
|
Coca-Cola |
Food and beverage |
$3Bn |
Fans will only be able to buy Coca-Cola products at a hefty price of 4 euros per cup. |
|
Deloitte |
Management and business consultancy |
N/A |
|
|
Intel |
Processors and chips |
$400M |
|
|
Omega |
Watches |
N/A |
Omega chronographs are used for timekeeping at competitions. |
|
Panasonic |
Consumer electronics |
$285M |
|
|
P&G |
Hygiene products |
$100M |
|
|
Samsung |
Communication and electronics |
$1bn |
Entertainment electronics for the athletes |
|
Toyota |
Vehicles and mobility |
$835M |
|
|
Visa |
Payment service provider |
N/A |
|
Premium partners list:
|
Company name |
Sector |
Investment (USD) |
Note |
|---|---|---|---|
|
Accor |
Hotel |
N/A |
Contributes to managing the athletes and media villages, equating to 16,000 keys. |
|
Carrefour |
Retailer |
$105M-158M |
Serve as a food provider for the athlete villages during the Games, offering regional French produce and promoting sustainable eating. |
|
LVMH |
Luxury |
$163M |
Crafting bespoke trunks for the Olympic flames and medals |
Take VISA, one of the worldwide partners, as an example, they built the Sapphire lounge along the Seine offers guests an exclusive experience, complete with gourmet French cuisine, live entertainment, and a stunning view of Paris—designed to captivate and impress, especially on social media. This luxurious setup is a deliberate effort to promote the exclusivity of the Sapphire card, expanding its high-end lounge concept beyond airports to an iconic global event.
The event’s global appeal aligns perfectly with the interests of Sapphire Reserve cardholders, who are drawn to experiences centered around travel, dining, culture, excitement, and community. This alignment justifies the card's premium perks, such as the $550 annual fee, which is offset by the value these experiences provide.
The strategic involvement of brands like Airbnb, Coca-Cola, and LVMH (Louis Vuitton) in the Olympics has led to increased brand visibility and consumer engagement. LVMH’s association with the event, in particular, has bolstered its prestige, demonstrating the immediate and tangible benefits of Olympic sponsorships, such as driving traffic and sales. These outcomes underscore the effectiveness of leveraging such a significant cultural event to enhance brand presence and customer loyalty.
Post-Olympics, retailers should consider partnerships that not only provide immediate returns but also contribute to sustained brand growth. Leveraging such associations can be a powerful strategy for penetrating new markets and solidifying brand identity on a global scale.
Source:
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