Even after Toyota made waves earlier this week when it pulled Olympic ads from the Japanese market ahead of the 2020 Tokyo Games, many other advertisers say they still plan to compete.
Despite a yearlong delay and more than a year of uncertainty during the Covid-19 pandemic, the Olympics continue to be a moneymaker: Brands like Coca-Cola, Airbnb, GE, Intel, Samsung, Procter & Gamble, and Visa are all part of the estimated $3 billion in sponsorships for the Summer Games.
Click here to read the story at Forbes.com.
Discussion Questions:
- What is the sports industry?
- What do we mean by the global nature of the sports product?
- How might the Olympic Games represent an example of the global nature of the sports product?
- What is a brand?
- What is sponsorship?
- Why do brands sponsor events like the Olympics?
- According to this story, how much do brands spend to sponsor the Olympic Games?
- How has the COVID-19 pandemic impacted the Olympic Games?
- Based on information from this news story, how has the COVID-19 pandemic impacted the way sponsors connect their brands to the Olympic Games?