Paris Olympics Draws 18% More Sponsor Spending Than 2021

U.S. companies are reportedly looking to this summer’s Paris Olympics to put them ahead of their competitors.

Event sponsors have spent 18% more on the upcoming Olympics than they spent on the 2021 summer Olympics, Reuters reported Friday (July 12), citing Comcast’s NBCUniversal.

Detailing the ways U.S. firms are using the event to try to boost their sales, Reuters said that NBCUniversal’s streaming service Peacock, which has streaming rights to the games, said it would raise the prices of its premium and premium plus plans by $2 per month.

Nike said it is spending more on this year’s games than on any past ones; Hoka opened a store in Paris, anticipating high traffic during the events; and Coca-Cola will hold events centered on the games in more than 70 markets, according to the report.

Uber will offer cruises on the Seine in Paris during the games; Levi Strauss will reopen its store in the city’s Champs-Élysées; and On will enable customers at two of its stores to connect with athletes sponsored by the company, the report said.

In other Olympics-focused efforts, Airbnb increased supply of vacation rentals in the Paris market by 40%; Warner Bros Discovery will launch its Max streaming service in 25 more markets in Europe to enable viewers to watch the games; and Visa said it expects its clients in Europe to issue more than 5 million Olympic- and Paralympic-branded Visa credentials before the games, per the report.

Luxury fashion designers are also using the Olympics as an opportunity to display their wares, PYMNTS reported in June.

Ralph Lauren designed uniforms for the United States team to wear at the Olympic and Paralympic Games open and closing ceremonies; Giorgio Armani is set to outfit Italy’s team; and LVMH and its subsidiary Berluti have done the same for France’s team.

In addition, the International Olympic Committee (IOC) formed a consumer-facing collaboration with Lacoste on a co-branded fashion line.

Sportsbooks and daily fantasy operators are also looking to the Summer Olympics to bring about a bump in business, in this case games-related betting. This year’s Olympics will be the first to occur since the widespread legalization of gambling in the U.S.