NBC Hits $1 Billion In Olympics Ads With Massive Growth In Digital Ads
NBC has hit $1 billion in ads for the Olympics in London as of today. “It is an important number and a symbolic number for us,” stated NBC EVP of the Sports Group Seth Winter. “It is unprecedented for any event to hit that kind of number.” NBC sold around $850 million in ads for the Beijing Olympics four years ago. One of the key reasons for the growth was digital ads, which is up 200% from 4 years ago.
The $1 billion figure includes revenues earned from NBC, MSNBC, CNBC, Telemundo, Bravo, NBCOlympics.com, and the NBC Sports Network. The coverage for the games starts this Friday night with the opening ceremony.
NBC will have to pay some hefty rights fees and factor production costs to cover the Olympics. The TV portion coverage is up $100 million this year and digital ad revenue shot up from $20 million in 2008 to $60 million this year. “We’ve exceeded any forecast,” said Winter.
Sales for the Obama campaign hit $6.5 million. The Republican National Committee bought a couple million dollars worth of ads. “We continue to be in conversations with the political buyers,” said Winter in an interview with The New York Times.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry