The upcoming Winter Olympics in Sochi "is forcing marketers who pour hundreds of millions of dollars into the Games to perform a careful balancing act," according to Emily Steel of the FINANCIAL TIMES.
The Olympics "offer an unparalleled opportunity for major advertisers" such as Coca-Cola, McDonald’s, Procter & Gamble and General Electric "to reach billions of viewers around the world and align themselves with a blend of feel-good emotions tied to the glory of the Games."
Yet potential security risks and human rights controversies in Russia, "while likely to attract bigger audiences, are making this year’s Winter Olympics a much riskier bet."
Advertising spending during the Games "is expected to reach record levels this year." Security concerns "loom large after a series of terror attacks in the Russian city of Volgograd last month that killed more than 30 people."
Marketing execs said that "advertising next to coverage of a potential terrorist attack would be disastrous, and marketers likely would pull their ads." Meanwhile, rows over human rights and gay rights "are sparking concern as many advertisers preach a commitment to freedom and diversity" (FT, 1/13).
