The Paris Olympics are just around the corner, and the excitement is palpable. Fans eagerly anticipate the mega sporting event, which will run from July 26th to August 11th. Advertising plays a crucial role in such events, with brands meticulously planning and strategizing their campaigns.
Reports indicate that sponsorships have already crossed the ₹50 crore mark, reflecting a 70% increase compared to the Tokyo Olympics, which were impacted by the COVID-19 pandemic. The Tokyo Olympics generated ₹30 crore in sponsorship revenue, but the upcoming edition is expected to surpass this, as the previous games saw a decline in advertisers due to budget constraints and uncertainties.
The Indian Olympic Association (IOA), the governing body for the Olympics and Commonwealth Games in India, has secured 14 partners, including Bharat Petroleum (BPCL), Reliance Industries, Adani, and Aditya Birla Capital. On a global scale, sponsorships feature prominent brands such as P&G, Airbnb, Coca-Cola, and Samsung.
Sports18, the official media partner, has signed four sponsorship deals with brands like SBI and JSW. Industry experts suggest that the Olympics offer a unique and valuable opportunity for brands, given the global attention the tournament commands.
The Olympics have always been a special event for sports fans, and brands eagerly await these global tournaments. The Olympic committee is enthusiastic about the increasing sponsorship revenue and anticipates even more partnerships.
India will send a team of 120 athletes, led by Neeraj Chopra. JSW Inspire has come on board as the official sportswear partner, PUMA as the sports footwear partner, and TASVA has secured the deal for ceremonial kits for the Indian contingent.
