CTV Report
The Summer Olympics Could Be the Most Watched TV Event in 8 Years
by Frankie Karrer2 min read
Abstract
- The past two Summer Olympics boasted over 3 billion viewers each, solidifying their place as television titans over the last eight years.
- With Paris hosting the 2024 games, NBCUniversal anticipates a surge in viewership compared to recent Asia-based Olympics, thanks to more convenient timings for Western audiences.
- This optimism is reflected in record-breaking ad sales, exceeding $1.2 billion, with over $350 million coming from new advertisers.
- Peacock will capitalize on the Olympic buzz by raising subscription fees. Ad-supported plans are increasing by $2 to $7.99 monthly, while ad-free options jump to $13.99.
As we count down to the 2024 Summer Olympics, it’s clear that this is shaping up to be a record-breaking year. New data from eMarketer has revealed that these Olympics could be the most-watched TV event in eight (!) years. According to the International Olympic Committee, the previous two Summer Games in Rio 2016 and Tokyo 2020 each attracted over 3 billion viewers globally. And this year, NBCUniversal expects even higher viewership, thanks to Western audiences having easier viewing times with the games being held in a closer time zone. To take advantage of that surge in viewership, NBCU’s streaming service, Peacock, is — perhaps unsurprisingly — increasing its subscription prices just ahead of the games. Ad-supported subscriptions will now cost $7.99 per month, while ad-free subscriptions will rise to $13.99.
On the advertiser side, NBCU has already secured $1.2 billion in ad commitments, with over $350 million from new Olympics advertisers. This tracks with the continued growth of the broader TV advertising landscape, which eMarketer projects will reach $87.74 billion in ad spending this year. While linear TV will still account for the majority of this spending through 2028, its share is gradually decreasing as more funds are directed towards Connected TV — thanks in part to big streaming events like the Olympics.
Connected TV in the News
CTV Attracts Programmatic Buying Boost
StreamTV Insider
With CTV ad spend on course to be 35% larger than that of online video this year, the IAB now reports that programmatic buying is the chief activation method for this digital channel.
What Gives You the Advertising “Ick”? Here’s How Marketers Answered.
MNTN Research
Marketers are marketers, but they’re also customers, which means the insights they can provide are multi-faceted. Turns out, seeing an ad over and over again bugs them, too.
Things Are Looking Up for NBCU Ahead of the Paris Olympics
Marketing Brew
With the Summer Olympics in Paris just three weeks away, and both ad sales and viewership looking robust, it seems like everything is coming together for NBCUniversal.
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