Viacom18, the official media rights partner of the games, said more than 170 million viewers tuned in to the games on JioCinema and Sports18 Network.
Further, the broadcaster said the games saw a 2.6 times surge in revenue over the 2020 edition, when it was broadcast on Sony Pictures Networks India’s TV and streaming platforms.
According to market experts, Viacom18 garnered ad revenue of ?110 crore during the 17-day event compared to ?40 crore in the 2020 edition. The event was streamed for free in 4K video resolution across 20 concurrent feeds on JioCinema. Viacom18 paid roughly $31 million for the Paris Olympics compared to $10 million paid by Sony for the Tokyo Games.
Navin Khemka, CEO, South Asia at EssenceMediacom, said the multidisciplinary nature of the Olympics helps it accumulate viewership. “Some viewers are interested in sports where India is expected to do well, while some disciplines like tennis and football have a core fan base who will tune in irrespective of the fact whether or not India is participating,” he noted. Khemka said the scale of monetisation on events like the Olympics is low since there is less ad inventory to sell compared to cricket, which is a marketer’s delight due to the commercial opportunities it presents.
Kiran Mani, CEO, Viacom18 Digital said Paris 2024 is a prime example of how non-cricket sporting action is continuing to grow in adoption among Indian audiences. “Both the viewership scale and the enthusiastic advertiser participation bear testimony to that,” he said.
The Indian Olympics Association (IOA) also doubled its sponsorship revenue to ?50 crore for the Paris Olympics, according to Neerav Tomar, CEO at IOS Sports. IOS is the official marketing agency of the IOA. “Apart from the sponsorship fee, brands also spent an estimated ?250 crore on activating the sponsorship deals,” he added.
Athletes like Neeraj Chopra and Manu Bhaker, who won medals at the Olympics, are also being wooed by sponsors. JSW Sports COO Divyanshu Singh said Chopra’s current endorsement value is ?4 crore annually, which is projected to grow by 40-50% going forward on the back of his consistent performance at international events. Chopra currently endorses 21 brands, including Visa, Samsung, Coca-Cola, Britannia, Gillette, and Krafton. “We only do long-term deals for Neeraj Chopra with brands as it’s a win-win for both sides. Long-term associations help brands to leverage their association with Neeraj to build meaningful relationships with consumers,” Singh said. According to Tomar, there has been a heightened interest among brands to work with non-cricketers. IOS manages Manu Bhaker, who created history by winning two bronze medals, one alongside Sarabjot Singh.
