July 18, 2012

London Olympics a Non-Event?

Many advertisers don’t appear to be as hot with Olympic fever this year.

For example, the London Evening Standard thought they’d end up with a bunch of cash from media sales, but their eBay-style ad auction proved them wrong. The bidding war (or lack there of) surprised many when expectations came in lower than the score on a pole vaulter using a bendy straw.

As a result, there’s still plenty of room for outdoor advertising around London. So, if you’ve got an extra hundred million (pounds, that is) laying around, put it to good use.

Overall, the the games cost $15 billion, but the London Organizing Committee of the Olympic and Paralympic Games (LOCOG) has only raised $2 billion in sponsorship gold.

For that $13 billion differential, they could buy out the real Olympic birthplace, Greece, post-default….

The LOCOG have also installed some tight rules to ensure non-sponsors don’t get in the games:
• Logos from non-sponsors are being covered up with tape in public places (including the ‘loo!’)
• Athletes are restriced from using Olympic symbols in blogging/social media (#freedom of expression?)
• “Advertising police” can raid any potentially unauthorized advertising areas and fine offenders 20,000 pounds

Like rampant parking meter maids, that’s one way to gain revenue. But whatever happened to love of the game…or Games?