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When it comes to the Olympic Games...the answer may be “yes!” Advertising gurus on Madison Avenue say that selling ads and sponsorships in the upcoming winter Olympics is proving more difficult than anticipated.
Some of the big traditional marketers—like Home Depot and Bank of America—are sitting this one out. They cite general concerns about the recession, “Beijing Fatigue”—as if we are all still reminiscing about Michael Phelps—and “winter vs. summer” as in “summer” is a better brand.
What? I would cite lousy business management on THEIR part, resulting in their inability to capitalize on one of the most viewed events in the world! (Check out the article from Reuters)
Some 4.7 billion viewers, or 70 percent of the world's population, watched the 2008 Beijing Games, according to AC Nielsen. And, those of us in dark, cold, snowy New England will be more than happy to watch two weeks of something other than bad reality shows this February!
The good news for local advertisers? If the “big boys” think the Olympics isn’t a good buy, ad prices will be down, and more local advertisers can get in. Because: winter or summer, recession or not, more people will watch the Olympics than any other television event in 2010! (It’s still cheaper entertainment for viewers than going out for pizza!)
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