According to research firm Ampere Analysis, the International Olympic Committee (IOC) is set to reach a sponsorship revenue target of $1.34 billion this year. That's 60% higher than it was three years ago in Tokyo. And revenue flowing in from commercial sponsors is growing 10 times faster than that from media rights sales.
"We are seeing more global entities leveraging major sporting events to support their brand-building objectives, with the aim of reaching consumers in new markets and strengthening their presence in existing territories," Chloe Ng-Triquet, sponsorship researcher at Ampere Analysis, said in a research note.
The price of becoming one of the handful of worldwide Olympic partners is, it's fair to say, large. Toyota reportedly paid $835 million to sponsor four Olympics (including summer and winter games), from 2015 to 2024.
It's likely that whichever auto brand replaces Toyota's berth will be stumping a similar, if not higher, amount of cash. That's because future editions of the games are considered more valuable, at least for marketing purposes, than the recent Pyeongchang and Tokyo games.
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