Tuesday, February 9, 2010

What would you do with $750,000? Facts and Numbers of the Games

With four days until the Opening Ceremony the world is turning its attention to British Columbia. You have probably heard lots about the athletes, the venues, the torch run and maybe some things about how much things are going to cost.

Have you ever considered how much it would cost for a prime-time ad slot during the Olympics? On NBC the going rate for a 30-second prime time slot is $750,000. Although they were predicting taking a $200-million revenue hit during the Games sales have picked up and NBC have sold $820-million in sales. For NBC this is a good thing since shows such as American Idol and Grey’s Anatomy will be competing for ratings on other networks.

Revenue in other areas of the Games is looking good as well. Ticket sales are on track to reach the $251-million target and Canadians have bought over half a million hoodies, toques and scarves and don’t forget the red mittens! They have become the hot item to have for the Games at $10 a pair and are constantly sold out at retail locations.

We have been hearing about the cost of the Games in Vancouver over the past few months and there is a good chance we will be hearing about it for months to come. Some articles that can be found in the SIRC Collection surrounding the cost of the Games include:

Cohen, Andrew (2009). Oh, Canada. Athletic Business, 33(1), 20-22.

Mickle, T. (2010). A Mountain to Climb. Street & Smith's Sportsbusiness Journal, 12(37), 1-16.

Mickle, T., & Ourand, J. (2010). NBC readjusts Games sales goals. Street & Smith's Sportsbusiness Journal, 12(37), 1-27.

Wilner, Barry (2009). VANOC to Glow in the Dark. SportBusiness International, (142), 9.

Although the Games are taking place during a time of recession things are looking brighter the closer we get. Tune into the Opening Ceremonies this Friday to cheer on Canada that’s what we will be doing at SIRC.

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