Olympic Sponsors Losing Battle Against Non-Affiliated Rivals In Branding For Sochi
Official Olympic sponsors "are being beaten by non-affiliated rivals in the race for brand awareness ahead of next year's Sochi Winter Olympics and the 2016 Summer Games in Rio de Janeiro," according to REUTERS. Media tracking company The Global Language Monitor said in a "Sochi 2014 Ambush Marketing Outlook" that official sponsors "faced considerable pressure from those who contributed nothing to the Olympic movement." The report found that "10 of the top 15 companies it ranked by brand affiliation with Sochi were non-Olympic partners." In the same top 20 list, Olympic sponsors "filled the bottom five places." GLM President Paul J.J. Payack said, "The Olympics have the ability of make, break, energize, or hasten the decline of global brands." GLM put the cost of being a top Olympic partner at more than $1B over the four-year period between Summer or Winter Games. That cost includes rights fees payable to the IOC, the cost of advertising, merchandising and other marketing activities (REUTERS, 8/30).