Brazilian telecom Oi "has been treading water in bankruptcy proceedings," but the company is "finding some inspiration from the country’s top surfer," according to Millard & Moura of BLOOMBERG. Gabriel Medina, a front-runner in the World Surf League, will vie for his second title when the '17 season wraps up this month in Hawaii. It is "good news for Rio de Janeiro-based Oi, one of Medina’s main sponsors." The nature of surf contests, which last for days and "only run in optimal wave and wind conditions, makes them more popular on mobile devices, making it an obvious fit" with Oi’s "wider business model." More Brazilians stream live surf competitions than any other nation, "consistently surpassing the U.S. and Australia," Oi Head of Sponsorships & Events Bruno Cremona said. São Paulo-based Escola Superior de Propaganda & Marketing professor Mauricio Turra Ponte said, "Oi may have identified the need to strengthen its image by looking for something new to show that it’s changing, leaving behind the outdated image of a company full of problems." Plenty "of problems persist" for Oi. Marco Schroeder quit as Oi’s CEO on Nov. 24. The company lost 10% of its wireless users in the 12 months through September, and Schroeder "had regularly warned that it needs to get out of bankruptcy protection and speed up investments in its network." To that end, backing athletes like Medina as well as skateboarders "helps keep Oi’s brand fresh among young consumers," Cremona said. He added, "The company’s brand visibility is very large thanks to growth in the championship tour" (BLOOMBERG, 12/4).
