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2024 Paris Olympics Ad Sales Boom by Investing in Social; Coalition of Amazon, Expedia, Booking.com, and Glassdoor team up to fight fake reviews; Taylor Swift “Eras Tour” film swept Scorsese’s “Killers of the Flower Moon” at the Box Office.
October 25, 2023
Welcome back, the 2024 Paris Olympics are still over a year away, but ad sales for the event are already pacing ahead of past games.
According to NBCUniversal, which holds the U.S. broadcast rights to the Olympics, automotive and pharmaceutical brands are showing particular interest in the games, and the network plans to devote more than half of its coverage to women's sports. Backed by a recent NBC Sports study that found women's sports viewership in the U.S. has grown by 31% over the past five years. NBCU is investing big in social to prepare, distributing short-form content on sites like X and TikTok and working with creators to make social content from the games, said Dan Lovinger, NBCU’s president of Olympic and Paralympic partnerships. Overall, the company anticipates that anywhere from 20%–25% of total consumption will be through digital channels and Peacock.
“In the past when everything was linear…only a handful of advertisers could literally afford the out-of-pocket, and so we would do somewhere in the neighborhood of 100 different advertising deals for the Olympics,” Lovinger said. “But with Peacock and digital and social, we can now extend the mid-tail and the long-tail. So 100 [advertisers] might become 200.”
Next, Amazon, Booking.Com, Expedia Group, Glassdoor, TripAdvisor, and Trustpilot team up to launch the global Coalition for Trusted Reviews, a cross-industry collaboration committed to protecting access to trustworthy consumer reviews worldwide.
Consider this -fake reviews pose a global threat across industries, with a study by BrightLocal revealing that 82% of consumers read reviews before making a purchase, and 52% won't even consider a product or service with no reviews underscores the importance of safeguarding your business's reputation.
The coalition's strategy is fourfold: setting common standards for fake reviews, sharing best practices in hosting reviews and detection methods, exposing fraudulent operators, and collaborating with academics and policy leaders. The initiative means your business can thrive in an era where trust is paramount, ensuring your customers have confidence in their decisions while safeguarding your reputation from deceptive practices. It's a game-changing opportunity to position your business at the forefront of trust and authenticity.
Lastly, in an unusual box office match-up, Taylor Swift and Martin Scorsese went head-to-head over the weekend, a scenario that may initially seem worlds apart for our business-minded audience.
Swift's "The Eras Tour" dominated with a record-breaking opening but experienced a significant drop in ticket sales in its second week, possibly indicating it was an opening weekend phenomenon. However, it has already become the highest-grossing concert film in North America, emphasizing the influence of trusted reviews on consumer decisions.
On the other hand, Scorsese's "Killers of the Flower Moon" marked Apple Studios' major theatrical debut and became the best wide-release opening for a film from a streaming company.
The film's successful launch suggests that flexible distribution strategies and compelling content can thrive in today's movie business, challenging traditional models. The Swift-Scorsese weekend battle underscores the changing dynamics of the film industry, with unique content and innovative distribution approaches coexisting and succeeding at the box office.
For our business-savvy audience, it's a reminder that understanding your audience and adapting to the evolving market can lead to success, no matter the industry.
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