Quick! Name five Olympic sponsors.
If you're like me, trying to name even two was a challenge. I can name a lot of different companies, but I'm not sure which ones are actual "Olympic sponsors" anymore.
After reading Frederik Balfour and Reena Jana's story in Business Week, I realized that I must not be alone.
Several major corporations have pulled their Olympic advertising money off the table after these Games, thus probably making Beijing the "high-water mark of the Olympic sponsorship program," according to Balfour and Jana. The amount of money it takes to be a main sponsor in Beijing is staggering.
Companies have paid $866 million, or an average of $72 million apiece, to sponsor the Turin and Beijing Games (BusinessWeek.com, 1/30/06). That's almost one-third more than the $663 million total paid to back the Salt Lake City and Athens Games in 2002 and 2004, and up from $579 million for the Nagano-Sydney cycle in 1998 and 2000.
The problem for companies, especially ones looking toRead More »from Is an Olympic sponsorship worth all the money?