Paris Olympics 2024 is just weeks away and advertisers are viewing it as a big opportunity to enhance brand visibility and build consumer connect. Despite the time difference, experts say the event is bound to connect with millions of engaged viewers worldwide across traditional and digital media channels.
The Indian Olympic Association (IOA), governing body for the Olympic Movement and the Commonwealth Games in India, has onboarded around 12 Indian Olympic Partners. Bharat Petroleum Corporation Limited (BPCL), Reliance Foundation, Adani and Aditya Birla Capital are the principal sponsors for Team India at the Paris Olympics.
While Yes Bank has come on board as the Banking Partner, Dream Set Go and Herbalife will be the official Travel Partner and Nutrition Partner respectively. EBCO, Borosil, AMUL and INOX Leisure are the associate partners. JSW Inspire is the official SportsWear Partner and PUMA the Sports Footwear Partner. TASVA has come on board for the ceremonial kits for the Indian Contingent.
Among the worldwide sponsors, there are 14 names on board, including Coca-Cola, Airbnb, P&G, Panasonic and Samsung.
Official broadcaster and streaming platform Sports18 and JioCinema is in the process of closing sponsors and advertisers for the multi-sports event. e4m has learnt that Sports18 has closed multiple sponsors, including JSW.
According to sources, for co-presenting sponsorships brands need to shell out between Rs 20-25 crore, while for associate sponsorship deals the cost is Rs 10-15 crore. The broadcaster is seeking Rs 1-2 lakh per 10 seconds on TV, while for mobile advertising the cost is around Rs 250-270 per CPM. The streaming platform has pegged its rate at Rs 80,000-Rs 1.2 lakh for CTV.
According to industry experts, Olympics is a good opportunity for brands to demonstrate their support for the Indian contingent and align themselves with the global stage of the Games.
Through sponsorships, partnerships with athletes, and participation in cause-related campaigns, brands can enhance their reputation and forge emotional connections with consumers who value sportsmanship, excellence, and national pride. This not only boosts brand visibility but also strengthens brand perception among the audience.
According to Anil Solanki, Senior Director, Media Lead, Dentsu X, advertisers are cautiously optimistic about Paris Olympics. While TV advertising is still significant, there's a growing interest in digital platforms to reach younger audiences and leverage interactive formats.
“Brands are also exploring athlete partnerships and cause-related campaigns to connect with consumers' values and passions. Overall, advertisers see the Paris Olympics as a valuable platform as most of the contest will happen during awake hours (3:30 hrs time difference), but are carefully evaluating their strategies in a changing media landscape,” he said.
"There is interest in the Paris Olympics among advertisers. With ad rates relatively moderate, it offers smaller brands the chance to buy ad spots at reasonable prices. Additionally, many brands are opting for package deals, which are seen as advantageous," said a media planner on the condition of anonymity.
As reported earlier by exchangemedia, IOA signed 11 sponsors for Tokyo Olympics 2020, which took place in 2021 due to COVID. The then official broadcaster, Sony Pictures Network India (SPNI), had signed over 11 sponsors for the 16-day mega event. According to industry estimates, the broadcaster had earned approximately Rs 100 crore.
“Olympics is seeing good traction now that the India contingent is already 115+ and we're qualified for 16 sports. Brands understand the global status of India winning medals and showcasing themselves to this audience. The expected reach is 150 million across Digital and TV,” said The Media Ant, CBO, Abhishek Mukherjee.
At Tokyo 2020, the Indian contingent had 124 athletes, the largest that the country had sent to the Games. India has won seven medals, their biggest haul in a single Olympics - including Neeraj Chopra’s historic gold medal in the men’s javelin throw.
India will be sending a contingent of close to 120 athletes to the Olympics this year, including an Athletics team led by defending champion in the men’s javelin Neeraj Chopra, a 21-member Shooting team and a 16-member men’s Hockey team. The Paris 2024 Olympics will begin on July 26 and end on August 11.
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