How Do the Olympics Make Money? The Olympics Business Model, Explained | WSJ The Economics Of
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- เผยแพร่เมื่อ 7 ก.พ. 2022
- The Olympic Games have been a revenue generating enterprise for the IOC from nearly their inception. WSJ’s Stu Woo unpacks the history of brand partnerships and the challenges sponsors are facing at the Beijing Games.
Photo: Fabrizio Bensch/Reuters
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London 2012 is the best example on how a city/nation should host a major international multi-sports event
Coca Cola ? A beverage full of sugar is a sponsor to an international level sporting event.
Massive feat for Coca Cola imo
You may be surprised to learn the Coca Cola minis are a frequent site on the Tour de France. In excess perhaps not the healthiest beverage, but in moderation it is fine and actually can be beneficial during intense physical activity.
@@qwerty112311 Probably because of the instant sugar rush it provides I believe?
Coke taste great...with that said too much isnt good just like everything else...
Coca Cola's marketing for decades has connected it with youth,sports etc.That's why they almost use only young people in their advertisements doing cool things while ignoring diabetes.
they Own powerade so they provide that
Goood topic
I can’t express how happy I was to find the Olympics on Peacock this winter. I have waited through SO many Olympics living overseas and not having a television, wishing I could watch gymnastics, figure skating, etc., but blocked because the website always asked for my cable subscription information. I’ve always been willing to pay to see the Olympics (and World Cup), but it was never possible till now. Now for $10 I can watch all the events this month, without ads, and even without commentary! (Who talks during a dance performance or concert? Why would they think we want to hear people talk over figure skating?) I am on cloud nine.
As a Canadian, I am so very grateful of what CBC is doing. I love the full access to the games is free for all those with internet and a device in canada.
I’m just glad the opening ceremony is placed on TH-cam without ads after the games are over. CBC’s ad placement strategy isn’t that great then.
And we’re stuck with nbc over here in the US. Smh
South Africa getting the Soccer World Cup in 2010 was an absolute disaster for us! So much for all the extra money coming in… we did NOT tax the visitors with the usual VAT on ANYTHING so the government made nothing despite spending billions on building new stadiums which have been barely used since. As for our small business owners… forget it! The licensing rights and stadium place rights were so expensive that almost all lost a LOT of money - ALL of which went to the Soccer World Cup organisation. They made a fortune, and our country and its people landed up a lot poorer. Seriously, just don’t invite these types of games to your country.
You dont make money hosting competitions, its a publicity for the host.
Interesting
Taking broadcasts, sponsors.. into account as factors to build a model describing how the Olympics dynamically work.
Would love a video on how the olympics positively or negatively affect the hosting country economically?
Two sides to every coin 🪙
Of course!
Nice video.
how? wsj and sports brands
1:38 Aren’t there about 195 countries?
They are really counting National Olympic Committees, not countries. Even though American Samoa, Guam, Puerto Rico, and U.S. Virgin Islands are all part of the United States of America, each of the territories has its own National Olympic Committee. So they are four separate teams.
@@RaymondHng Thanks. This makes sense 👍
They made money while those country that host this Olympic lose money building billion dollar infrastructure... lol
well it was the choice of the country hosting it, if they don't want to they don't have to
I was about to write this comment
Olympics and fifa is a big advertisement for the hosting country
And the abandoning or misuse of the Olympic city is because of the mishandling of the authorities in hosting country, if handled correctly they can make good use of it and even make profit
isnt it up to the country to establish a plan to use those building after the Olympics? Atlanta comes to mind
if it costs too much, developed countries dont host Olympic. Those countries have more tourists, showing a good image to the world
The question is whether these events are really beneficial considering economic as well as social effects?
Just out of curiosity, who in this comment section still keeps up with the Olympics? Personally, I haven’t tuned into one since the 2018 Winter Olympics on Seoul, but that’s just me.
I only follow equestrian so for me I get info via FEI etc. the broadcasters of summer olympics have short strawed the equestrian sports in favor of hours of fawking beach volley ball. (Yeah, I get a jiggly a$$ brings in viewers…but come on)
the winter olympics going on now is quite entertaining. my personal fav was 2012 tho.
last years lockdown made me watch almost every sports tho.. also my first attempt to watch the olympics ever ahahah
After living in ATL in 1996 and seeing what REALLY goes on, I never watched again.
The BBC has always broadcasted the Olympics. Some of the facts in here are misstated. However still very insightful!
Why?
the pronunciation of Xinjiang is awesome, which stands for Uygur, the name that Uyghur people prefer to be called.
The Olympics have notably caused cities to go into massive debt and not make a return.
Yeah the cities go into debt, the IOC make money
Massive? Meanwhile If you go to Endia 🇮🇳 you'll see lots of dirty disgusting stinky slums
That's due to the incompetence of the local and national government
The Beijing Olympics in 2008 has done nothing but good for the city, from much improved infrastructure to a much more livable city, all thanks to the investment made to host the Olympics
And the 2022 Winter Olympics in Beijing would also yield many benefits, being a Skiing enthusiast I'm particularly looking forward to the new tracks built for this Olympic game
So the Olympics should be hosted in countries and cities where the government is highly organized and efficient.
Their arrogance and behind closed doors kickbacks should be investigated
Time to stop supporting the Olympics
the dance at last 3 sec. priceless :D
How did you get to the number 220 countries? I was not aware that this many existed (I've always seen 193 or 195)
They are really counting National Olympic Committees, not countries. Even though American Samoa, Guam, Puerto Rico, and U.S. Virgin Islands are all part of the United States of America, each of the territories has its own National Olympic Committee. So they are four separate teams.
Haha wow... So glad that someone else too noticed it. Cos even am aware of only 194
Broadcasters earn revenue, not Olympians. But Olympians obtain medals as replacements if they win. Who earns revenue as an athlete? A FIFA star like Lionel Messi.
How much do bribes factor in?
Right alongside the corruption, manipulation and ego of the worlds "leaders"
host cities should hand the ioc
their bill to organize a games
soo, cable? :D
They don’t
Who’s getting the money from selling Bing Dwen Dwen related products?
How tf is the Olympics still a thing
How tf are you a ting, bruh? Yo, take it easy yo
What does the IOC do with the billions it receives? Where does the money go?
They don’t.
What does IOC do with all the money?
Ten percent of the revenue goes to International Olympic Operations. Ninety percent of the revenue supports the staging of future Olympic Games and promote the worldwide development of sport and the Olympic Movement.
Past contributions to support the Games (in USD million)
*Olympic Summer Games*
2004 Athens 9 65
2008 Beijing 1,250
2012 London 1,374
2016 Rio 1,531
*Olympic Winter Games*
2002 Salt Lake City 552
2006 Turin 561
2010 Vancouver 775
2014 Sochi 833
2018 PyeongChang 887
Past contributions to National Olympic Committees (in USD million)
*Olympic Summer Games*
2004 Athens 234
2008 Beijing 301
2012 London 520
2016 Rio 540
*Olympic Winter Games*
2002 Salt Lake City 87
2006 Turin 136
2010 Vancouver 215
2014 Sochi 199
2018 PyeongChang 215
Past contributions to International Federations, the international governing bodies of each sport (in USD million)
*Olympic Summer Games*
2004 Athens 257
2008 Beijing 297
2012 London 520
2016 Rio 540
*Olympic Winter Games*
2002 Salt Lake City 92
2006 Turin 128
2010 Vancouver 209
2014 Sochi 199
2018 PyeongChang 215
Contributions to the World Anti-Doping Agency (WADA), the International Council of Arbitration for Sport (ICAS), the International Olympic Academy (IOA), the International Testing Agency (ITA) and the International Paralympic Committee (IPC): USD 56 million in 2020
Past contributions to staging the Youth Olympic Games (in USD million)
*Summer YOG*
2010 Singapore 40
2014 Nanjing 50
2018 Buenos Aires 64
*Winter YOG*
2012 Innsbruck 20
2016 Lillehammer 35
2020 Lausanne 26
And the athletes aren’t paid 😔😂
Ten percent of the revenue goes to International Olympic Operations. Ninety percent of the revenue supports the staging of future Olympic Games and promote the worldwide development of sport and the Olympic Movement.
Past contributions to support the Games (in USD million)
*Olympic Summer Games*
2004 Athens 9 65
2008 Beijing 1,250
2012 London 1,374
2016 Rio 1,531
*Olympic Winter Games*
2002 Salt Lake City 552
2006 Turin 561
2010 Vancouver 775
2014 Sochi 833
2018 PyeongChang 887
Past contributions to National Olympic Committees (in USD million)
*Olympic Summer Games*
2004 Athens 234
2008 Beijing 301
2012 London 520
2016 Rio 540
*Olympic Winter Games*
2002 Salt Lake City 87
2006 Turin 136
2010 Vancouver 215
2014 Sochi 199
2018 PyeongChang 215
Past contributions to International Federations, the international governing bodies of each sport (in USD million)
*Olympic Summer Games*
2004 Athens 257
2008 Beijing 297
2012 London 520
2016 Rio 540
*Olympic Winter Games*
2002 Salt Lake City 92
2006 Turin 128
2010 Vancouver 209
2014 Sochi 199
2018 PyeongChang 215
Contributions to the World Anti-Doping Agency (WADA), the International Council of Arbitration for Sport (ICAS), the International Olympic Academy (IOA), the International Testing Agency (ITA) and the International Paralympic Committee (IPC): USD 56 million in 2020
Past contributions to staging the Youth Olympic Games (in USD million)
*Summer YOG*
2010 Singapore 40
2014 Nanjing 50
2018 Buenos Aires 64
*Winter YOG*
2012 Innsbruck 20
2016 Lillehammer 35
2020 Lausanne 26
silly. Athletes get paid from their countries
Why do advertisers pay for something that no-one watches ?
Advertisers pay using the revenue they get from you buying their products and services.
Simple answer. They don't make money. It's a goodwill. I'm talking about the countries.
the 2022 Olympics mascot is the cutest mascot I've ever seen.
I love Olympics ❤
7:49 look at that cute boi
Oylimpc games is very popular gold metal barns and nobles my name is Heather
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Kendrick Perkins is that you 😂
streaming services are already a big part of the TV rights discussions. In Europe, Discovery was chosen over the EBU mostly because Discovery promised to make the Olympic Channel and to monetize all those concurrent streams that have been broadcast for free on the internet by the EBU broadcasters all the years before. The EBU broadcasters eventually got all relevant TV rights anyways, but (outside Germany) all the other streams are only available on Eurovision Player
😎
IOC- International Olympic Committee.
I Only Care money. 😄
How can the Olympics be broadcast to over 220 countries, when the UN only recognises 193 countries? (Plus The Vatican & Palestine)
They are really counting National Olympic Committees, not countries. Even though American Samoa, Guam, Puerto Rico, and U.S. Virgin Islands are all part of the United States of America, each of the territories has its own National Olympic Committee. So they are four separate teams.
It makes money by using athletes for free, and host country venues for free while it makes a business on broadcasting rights, olympics need to stop
how silly you are. Attending Olympic is the athletes's dream. They are not celebrities so dont say using them for free.
if it costs too much, developed countries dont host Olympic. Those countries have more tourists, showing a good image to the world and more than that.
Past tense. Make money dispecable credit theft. - 1 nation !Spain
Surely under the Olympics ideal, watching it is a fundamental human right and therefore we shouldn't have to pay for it?
Haha. They dont even pay their athletes, why would they give it away for free?
Does anyone still watch the olympics?
Well they charge for everything and pay for nothing. There no need to finish the video
Bribes
Spoiler: they don't
Talking about economics of the Olympics but still manage to spare a minute on bashing China.
How do Capitalist greed and corrupt IOC make money and host Olympics in authoritarian nations.
let us put on a show - a business model
the business model is get other people (a country) to pay everything required to put on the show, and we take the money claiming that we did it all.
The Olympics are still a thing????
The expert analysing a billion dollar industry as a stand up in his lounge?
Olympian are Olympics be better 2024
NBC has done such a trash job broadcasting the Olympics. Idk why they gave them such long broadcasting contracts.
Foget the Olympics,greek support independent world game event not connet to Olympics
i say and i do boycott em.don't watch the games
2012 London Olympics I was implement Olympics lotto it doesn’t succeed hope 2024 France.
Mog has lost all the foundations of the Olympic Charter.The games have become completely politicized .Russia and Belarus have been put in a position
Imagine if all that money went to scientist or the poor and hungry instead of just a small group of spoiled jocks.
money won't save poverty. money management does tho.
@@Centre14liquid money does reduce poverty.
This year's genocide games are even better
Thanks IOC as a big & reputed organization,,,,ICC wants & we the real cricket lovers like to see that cricket as a nice game will be include in Olympics,,,,In cricket game Test & 50 over format both are time wasting,,,So that obviously Test,50 over can't get sit in Olympics,,,,,But last 15 years cricket has been changed dramatically & the game is not a boring game now,,T20,T10 both versions have been started from year 2005 & 2017 & by these 2 shorter versions of the game cricket is now a way of globalization,,Already ICC has 108 nations& all are t20 international status_ The number will definitely increase in upcoming days & T20, T10 both formats are shorter formats & also very enjoyable, entertainment also, also commercialization & by these 2 shorter format game cricket has get many new nations last decades & these 2 formats also get too much popularity in Test playing nations & also associate nations,,These 2 formats will be the future of the game,,,T20,T10 both formats are very easy to learn for all nations,,,,In 2024 T20 world cup USA will co-host with West Indies,,,,So it is request to IOC that please give a chance cricket into the Olympics games by T20 or T10 format in 2028 Los Angeles Olympics in USA 🇺🇸 & definitely Cricket can get a very good platform from Olympics & USA also be a very good part of cricket family,,,All the Best**
Hi friend,,your all sentence in the comments section are very perfect,,,I am agree with you
monetary food apparel medicines lodging equipments.
hail the lord!
NBC is terrible.
The Olympics destroyed Atlanta
Bruh...take it easy yo and touch some grass bruh
It's not called Xinjiang it's East-turkistan
I'm disappointed that of all the topics about the Olympics you decided to cover how rich people just throw around money. Why are you not covering the sexual assault of competitors, or how they competitors don't get a livable wage from the organizers? Maybe take some time to showcase how the Olympics leave the cities they go to in financial ruin? What a shame.
This is the _Wall Street Journal_ channel. It's all about finance.
Its "The Economics of the Olympics"
why would coca cola advertise so much in china when its known that their cola is being counterfeited there
Go china
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Boycott every company that invests in the Beijing Olympics.
USA's number 17 on the Beijing Winter Olympics Medals table.
It's a disgrace and Eileen Gu is responsible for this embarrassment.
How ?
No one cares
@Team Tryxgg why not blame yourself for not training to excel yourself in one of the winter sport game to help win a medal.
Hatred is self punishment. Do you think they're feeling bad because you hate them ?
USA is now ranked 3 in the medal table.
It's an ending game from now on