The Euro Cup and Copa America came to a close earlier this month, but soon it will be time to celebrate the next big live sporting event for 2024 – the Olympic Games in Paris.
According to the International Olympic Committee (IOC), the last two Summer games – which took place in Rio in 2016 and Tokyo in 2021 – each drew more than three billion global viewers, making them some of the most-watched televised events over the last eight years. In addition, Magna forecasted that Canadian media owners’ ad sales will grow by 7.8% in 2024 as a result of the Games, which kicks off on Friday July 26.
While the Winter games typically attract a larger Canadian audience because the country tends to perform better, Geoff Crain, VP of sales and digital for Kingstar Media, tells MiC that “the time change for Canadians should result in an increase in viewership versus the previous games, which were in East Asia and resulted in many events airing in the overnight hours.”
The fact that this is the first Olympic event taking place in a Western timezone since 2016 means there will be more chances for co-viewing and for people to support Team Canada, says Jodi Peacock, client president at EssenceMediacom.
More than half of Canadians are expected to watch at least some coverage of the Olympics, adds Crain. And while the Olympics have a higher audience rating among the over-35 crowd, the introduction of several new sports to this year’s Games – such as breakdancing, kiteboarding and kayak cross – could attract a younger audience, he says.
Deena Markus, VP of integrated investments at UM, adds that the Olympics present an opportunity for numerous touchpoints for brands looking to leverage the attention halo surrounding the Games.
“Integrating traditional broadcasting with streaming services and real-time social updates offers brands diverse media touchpoints, allowing them to engage with audiences across various demographics,” says Markus. “Additionally, the Olympics offers brands a creative opportunity to connect with audiences through compelling narratives that tap into the nation’s passion for sports and its admiration for athletes.”
While TV and OOH are media staples for brands activating around the Olympics, there’s a noticeable trend towards online-first strategies, Peacock says. “Our Gen Z-focused brands, in particular, are emphasizing a predominantly digital and social media mix.” Tim Hughes, managing director of Cairns Oneil, adds that brands also want their Olympic package to reflect how Canadians consume the Games. “This means going far beyond a traditional brandsell purchase.”
“The growth of Olympic content consumption through digital platforms has brought forward additional new and affordable opportunities for brands to have an Olympic presence,” notes Hughes. “As well, the IOC has approved a number of new ad units for this year’s Olympic broadcast such as Side by Side Commercials and Squeezebacks. Partnerships with major, global social platforms deliver more coverage of the Olympics and more audience reach across all platforms.”
Participating in the Games at a mass media level can be expensive, however brands can rely on research to help them understand the impact their sponsorship has on key metrics such as brand favorability, brand awareness and brand perception attributes, Hughes says. In addition, CBC often includes studies that help understand the value of sponsors’ investment.
Among EssenceMediacom’s clients, spending is more or less stable compared to previous Olympics, says Peacock. “The fact that the Games follow the Euro Cup and Copa America has a mixed impact. While the momentum is certainly beneficial, some brands will have budgets split between these events, resulting in a higher overall investment in live summer sports but spread over a longer period.”
With files from Patti Summerfield
