When we think of the Olympics, we think of patriotism, teamwork and sport.
It’s a time that the cheerleader in us all comes out to show our support for our fellow Olympians. From the extravagant opening ceremonies, to the two weeks filled with pride and excitement, it’s truly amazing to see how it all comes together every other year.
So, how does it all come together? Who pays for it all? The top players are of course, the sponsors. According to Olympic.org, “Revenue generated by commercial partnerships accounts for more than 40% of Olympic Revenues”.
As you can imagine, being a sponsor at the Olympics is a big deal. Not only does it provide exclusivity rights to use the Olympic logo, but it also shares a platform to reach billions of people in over 200 countries. Move over Super bowl commercials.
Sponsors are chosen from different categories and have exclusive rights to that component during the Olympics. For example, Coca-Cola, who has sponsored the Olympics since 1928 holds the title of “Exclusive Product or Service Category: Non-Alcoholic Beverages”. Safe to say those attending will not have any issues getting their daily dosage of caffeine. Visa on the other hand, has been a sponsor of the Olympics for the past 30 years and is the “Exclusive Payment Card and the Official Payment System for the Olympic Games”.
While sponsorship is great for brand awareness, it also benefits the Olympics in many ways. From providing funds to support Olympic athletes and hopefuls around the world to contributing to the success of educational, environmental, cultural and youth-oriented initiatives of the Olympic movement, it’s evident that sponsorship is a key ingredient to the overall success of the Olympics.
This year at the Pyeong Chang 2018 Winter Olympics, keep an eye out for the Top IX Partners including:
To learn more about sponsorship at the Olympics, please visit: https://www.olympic.org/sponsors