Wednesday, June 04, 2008
An unbelievable amount of NBC's Olympic advertising spots are still available if you've got an extra $750K laying around. According to the NY Post the network needs to sell $1 Billion worth of spots to break even ($900 Million to Broadcast, $100 Million on coverage) and they're anywhere from $150-$350 Million short....
With just two months until the Beijing Olympics, NBC is scrambling to sell out ad time for its broadcast of the Games.NBC is saying that they're on track, but I don't know if I believe them. The network's put an insane amount of money into a program that most Americans believe is just there. Not something you go out of your way to view. It'll be very interesting to see the Olympics ratings this Summer and if people still care.
The Peacock network is said to be aggressively pushing advertisers and their agencies to buy spots during the Olympics as part of the "upfront" sales negotiations that started in mid-May.
Most of the big spenders have already bought during the Games, which means NBC will have to chase smaller advertisers to close the gap. NBC is charging north of $750,00 for a single spot. Ad execs said the pro-Tibet protests against China are weighing on the Olympics, despite NBC's assertions to the contrary.
A second culprit is the slowing economy. Ad buyers noted the red-hot "scatter" market - in which advertisers buy whatever ad time is left over after the upfront season ends - has cooled in recent months.
NBC Suffering Its Own Olympic Trials (NY Post)