Every 2 years, we anticipate what is arguably the biggest live event in the world; The Olympic Games. Nasdrovia, my friends from Sochi, Russia, it’s the 2014 Winter Olympics. Millions of people watch from around the world to see top athletes deliver emotional and dramatic performances and to hopefully capture a gold medal for their country. Of course, the Olympic Games are also a huge opportunity for marketers to access millions of consumers looking for the next “it” tech product or automobile.
The modern Olympic Games (French: Jeux olympiques) are the leading international sporting event featuring summer and winter sports competitions wherein thousands of athletes variously compete. The Olympic Games are considered the world’s foremost sports competition with more than 200 nations participating. The Olympic Games are held every four years, with the Summer and Winter Games alternating by occurring every four years but two years apart. Their creation was inspired by the ancient Olympic Games, which were held in Olympia, Greece, from the 8th century BC to the 4th century AD. Baron Pierre de Coubertin founded the International Olympic Committee (IOC) in 1894. The IOC is the governing body of the Olympic Movement, with the Olympic Charter defining its structure and authority.
Everything you’re seeing in the Olympic Games broadcast is connected to some sort of production support. Every single event is live and needs to be organized and executed by top production companies. From the opening ceremonies to the medal presentations and literally everything in between, the Olympics are one enormous and continuous live event needing 24/7 assistance by event organizers and production crews. You don’t get a second chance to capture the magic and drama of the Olympic performances. Everything has to be fine tuned with little or no room for error. The slightest miscue in production support could cost an advertiser millions in potential consumers or even worse, a severe injury to an athlete or attendee. So far, the biggest story out of Sochi has been the lighting malfunction during the Opening Ceremony. There is no bigger live event than the Olympics and it takes thousands of stage, lighting and audio crew members working around the clock to ensure a successful execution and broadcast.
From cross country skiing to curling, fans and attendees alike are flocking to the snow covered tundras of Sochi, Russia or simply to their smart phones and televisions to experience the Sochi Olympics events in live HD resolution, where ever they may be. Advertisers know this and are continually searching for new and innovative ways of aligning their product or service in a relevant and memorable way.
Oh…One last thing. Don’t forget about the currency factor. Behind every international vault lies billions of dollars just waiting for their chance to circulate throughout the Olympic Games. The opening ceremony of the Beijing Games reportedly cost $100 million with much of the cost incurred in the artistic segment. The concensus figure for the Sochi Olympics is 50 billion dollars and that figure is out-matched every 4 years. The 1984 Summer Olympics became a watershed moment in Olympic history. The Los Angeles-based organizing committee, led by Peter Ueberroth, was able to generate a surplus of US$225 million, which was an unprecedented amount at that time. Television leads the way, spending surreptitiously in their board rooms and executive offices. CBS paid US$375 million for the rights of the 1998 Nagano Games, while NBC spent US$3.5 billion for the broadcast rights of all the Olympic Games from 2000 to 2012.
Continue to go for the gold, my marketing minions, no matter what size or influence of your live event. Treat them all like it’s your Sochi Olympics and shore up the production element, giving you the best opportunity to have the biggest impact.
Hopefully this blog has been informative for our event planner clients! For more information on In Depth Events and our event production capabilities, please Ask Us a Question today. We look forward to hearing from you and working with you on your event!