How Do the Olympics Make Money? The Olympics Business Model, Explained | WSJ The Economics Of

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  • Опубліковано 24 гру 2024

КОМЕНТАРІ • 158

  • @09onine
    @09onine 2 роки тому +35

    London 2012 is the best example on how a city/nation should host a major international multi-sports event

  • @ventureplus5903
    @ventureplus5903 2 роки тому +195

    The Olympics have notably caused cities to go into massive debt and not make a return.

    • @rifalya8114
      @rifalya8114 2 роки тому +19

      Yeah the cities go into debt, the IOC make money

    • @NightcorEDM
      @NightcorEDM 2 роки тому +2

      Massive? Meanwhile If you go to Endia 🇮🇳 you'll see lots of dirty disgusting stinky slums

    • @obsidianstatue
      @obsidianstatue 2 роки тому +7

      That's due to the incompetence of the local and national government
      The Beijing Olympics in 2008 has done nothing but good for the city, from much improved infrastructure to a much more livable city, all thanks to the investment made to host the Olympics
      And the 2022 Winter Olympics in Beijing would also yield many benefits, being a Skiing enthusiast I'm particularly looking forward to the new tracks built for this Olympic game
      So the Olympics should be hosted in countries and cities where the government is highly organized and efficient.

  • @aaditsharrma
    @aaditsharrma 2 роки тому +64

    Coca Cola ? A beverage full of sugar is a sponsor to an international level sporting event.
    Massive feat for Coca Cola imo

    • @qwerty112311
      @qwerty112311 2 роки тому +14

      You may be surprised to learn the Coca Cola minis are a frequent site on the Tour de France. In excess perhaps not the healthiest beverage, but in moderation it is fine and actually can be beneficial during intense physical activity.

    • @aaditsharrma
      @aaditsharrma 2 роки тому +15

      @@qwerty112311 Probably because of the instant sugar rush it provides I believe?

    • @alalducente
      @alalducente 2 роки тому +8

      Coke taste great...with that said too much isnt good just like everything else...

    • @riddhimaansenapati5006
      @riddhimaansenapati5006 2 роки тому +1

      Coca Cola's marketing for decades has connected it with youth,sports etc.That's why they almost use only young people in their advertisements doing cool things while ignoring diabetes.

    • @lachie3986
      @lachie3986 Рік тому

      they Own powerade so they provide that

  • @annwilliams6438
    @annwilliams6438 2 роки тому +16

    South Africa getting the Soccer World Cup in 2010 was an absolute disaster for us! So much for all the extra money coming in… we did NOT tax the visitors with the usual VAT on ANYTHING so the government made nothing despite spending billions on building new stadiums which have been barely used since. As for our small business owners… forget it! The licensing rights and stadium place rights were so expensive that almost all lost a LOT of money - ALL of which went to the Soccer World Cup organisation. They made a fortune, and our country and its people landed up a lot poorer. Seriously, just don’t invite these types of games to your country.

    • @mohamedaissat1910
      @mohamedaissat1910 2 роки тому

      You dont make money hosting competitions, its a publicity for the host.

  • @bee42Sad
    @bee42Sad 2 роки тому +70

    As a Canadian, I am so very grateful of what CBC is doing. I love the full access to the games is free for all those with internet and a device in canada.

    • @WellBattle6
      @WellBattle6 2 роки тому +3

      I’m just glad the opening ceremony is placed on UA-cam without ads after the games are over. CBC’s ad placement strategy isn’t that great then.

    • @jeremyjdl713
      @jeremyjdl713 2 роки тому

      And we’re stuck with nbc over here in the US. Smh

  • @mafiakingc
    @mafiakingc 2 роки тому +6

    Goood topic

  • @AkaljotSinghGrewal
    @AkaljotSinghGrewal 2 роки тому +12

    1:38 Aren’t there about 195 countries?

    • @RaymondHng
      @RaymondHng 2 роки тому +8

      They are really counting National Olympic Committees, not countries. Even though American Samoa, Guam, Puerto Rico, and U.S. Virgin Islands are all part of the United States of America, each of the territories has its own National Olympic Committee. So they are four separate teams.

    • @AkaljotSinghGrewal
      @AkaljotSinghGrewal 2 роки тому +1

      @@RaymondHng Thanks. This makes sense 👍

  • @jackjo2739
    @jackjo2739 2 роки тому +63

    They made money while those country that host this Olympic lose money building billion dollar infrastructure... lol

    • @jk-gb4et
      @jk-gb4et 2 роки тому +6

      well it was the choice of the country hosting it, if they don't want to they don't have to

    • @Si_nengatcha
      @Si_nengatcha 2 роки тому +1

      I was about to write this comment

    • @ThE-vp4op
      @ThE-vp4op 2 роки тому +9

      Olympics and fifa is a big advertisement for the hosting country
      And the abandoning or misuse of the Olympic city is because of the mishandling of the authorities in hosting country, if handled correctly they can make good use of it and even make profit

    • @jusletursoulglobaby
      @jusletursoulglobaby 2 роки тому +1

      isnt it up to the country to establish a plan to use those building after the Olympics? Atlanta comes to mind

    • @hacc
      @hacc 2 роки тому

      if it costs too much, developed countries dont host Olympic. Those countries have more tourists, showing a good image to the world

  • @kidomark3819
    @kidomark3819 2 роки тому +71

    Would love a video on how the olympics positively or negatively affect the hosting country economically?

  • @MissJubilee
    @MissJubilee 2 роки тому +11

    I can’t express how happy I was to find the Olympics on Peacock this winter. I have waited through SO many Olympics living overseas and not having a television, wishing I could watch gymnastics, figure skating, etc., but blocked because the website always asked for my cable subscription information. I’ve always been willing to pay to see the Olympics (and World Cup), but it was never possible till now. Now for $10 I can watch all the events this month, without ads, and even without commentary! (Who talks during a dance performance or concert? Why would they think we want to hear people talk over figure skating?) I am on cloud nine.

  • @chm2
    @chm2 2 роки тому +13

    Time to stop supporting the Olympics

  • @Sport3ScienceFinance
    @Sport3ScienceFinance 10 місяців тому +1

    The question is whether these events are really beneficial considering economic as well as social effects?

  • @cdnsilverdaddy
    @cdnsilverdaddy 2 роки тому +9

    Their arrogance and behind closed doors kickbacks should be investigated

  • @bobthemagicmoose
    @bobthemagicmoose 2 роки тому +23

    How much do bribes factor in?

    • @theangelwearsprana1869
      @theangelwearsprana1869 2 роки тому

      Right alongside the corruption, manipulation and ego of the worlds "leaders"

  • @alparslankorkmaz2964
    @alparslankorkmaz2964 2 роки тому +1

    Nice video.

  • @AnthatiKhasim-i1e
    @AnthatiKhasim-i1e 4 місяці тому

    I'm impressed with the AI features in SmythOS. They make my life so much easier.

  • @carch7243
    @carch7243 2 роки тому +1

    The Olympics destroyed Atlanta

    • @simrans3675
      @simrans3675 Рік тому +1

      Bruh...take it easy yo and touch some grass bruh

  • @mikenealon4042
    @mikenealon4042 2 роки тому +7

    host cities should hand the ioc
    their bill to organize a games

  • @daveotuwa5596
    @daveotuwa5596 Рік тому +2

    Broadcasters earn revenue, not Olympians. But Olympians obtain medals as replacements if they win. Who earns revenue as an athlete? A FIFA star like Lionel Messi.

  • @openabox2150
    @openabox2150 2 роки тому +9

    the pronunciation of Xinjiang is awesome, which stands for Uygur, the name that Uyghur people prefer to be called.

  • @moeomeohuyenmeo1883
    @moeomeohuyenmeo1883 2 роки тому +6

    the 2022 Olympics mascot is the cutest mascot I've ever seen.

  • @mathaithomas8958
    @mathaithomas8958 10 місяців тому +1

    Olympian are Olympics be better 2024

  • @seanipher
    @seanipher 2 роки тому +34

    Just out of curiosity, who in this comment section still keeps up with the Olympics? Personally, I haven’t tuned into one since the 2018 Winter Olympics on Seoul, but that’s just me.

    • @paillette2010
      @paillette2010 2 роки тому +2

      I only follow equestrian so for me I get info via FEI etc. the broadcasters of summer olympics have short strawed the equestrian sports in favor of hours of fawking beach volley ball. (Yeah, I get a jiggly a$$ brings in viewers…but come on)

    • @Centre14
      @Centre14 2 роки тому +1

      the winter olympics going on now is quite entertaining. my personal fav was 2012 tho.

    • @treesandhugs
      @treesandhugs 2 роки тому +6

      last years lockdown made me watch almost every sports tho.. also my first attempt to watch the olympics ever ahahah

    • @mollari2261
      @mollari2261 2 роки тому

      After living in ATL in 1996 and seeing what REALLY goes on, I never watched again.

  • @greggallen7381
    @greggallen7381 2 роки тому +9

    And the athletes aren’t paid 😔😂

    • @RaymondHng
      @RaymondHng 2 роки тому

      Ten percent of the revenue goes to International Olympic Operations. Ninety percent of the revenue supports the staging of future Olympic Games and promote the worldwide development of sport and the Olympic Movement.
      Past contributions to support the Games (in USD million)
      *Olympic Summer Games*
      2004 Athens 9 65
      2008 Beijing 1,250
      2012 London 1,374
      2016 Rio 1,531
      *Olympic Winter Games*
      2002 Salt Lake City 552
      2006 Turin 561
      2010 Vancouver 775
      2014 Sochi 833
      2018 PyeongChang 887
      Past contributions to National Olympic Committees (in USD million)
      *Olympic Summer Games*
      2004 Athens 234
      2008 Beijing 301
      2012 London 520
      2016 Rio 540
      *Olympic Winter Games*
      2002 Salt Lake City 87
      2006 Turin 136
      2010 Vancouver 215
      2014 Sochi 199
      2018 PyeongChang 215
      Past contributions to International Federations, the international governing bodies of each sport (in USD million)
      *Olympic Summer Games*
      2004 Athens 257
      2008 Beijing 297
      2012 London 520
      2016 Rio 540
      *Olympic Winter Games*
      2002 Salt Lake City 92
      2006 Turin 128
      2010 Vancouver 209
      2014 Sochi 199
      2018 PyeongChang 215
      Contributions to the World Anti-Doping Agency (WADA), the International Council of Arbitration for Sport (ICAS), the International Olympic Academy (IOA), the International Testing Agency (ITA) and the International Paralympic Committee (IPC): USD 56 million in 2020
      Past contributions to staging the Youth Olympic Games (in USD million)
      *Summer YOG*
      2010 Singapore 40
      2014 Nanjing 50
      2018 Buenos Aires 64
      *Winter YOG*
      2012 Innsbruck 20
      2016 Lillehammer 35
      2020 Lausanne 26

    • @hacc
      @hacc 2 роки тому

      silly. Athletes get paid from their countries

  • @beanbean321
    @beanbean321 2 роки тому +9

    Why do advertisers pay for something that no-one watches ?

    • @RaymondHng
      @RaymondHng 2 роки тому +4

      Advertisers pay using the revenue they get from you buying their products and services.

  • @18nomah
    @18nomah 4 місяці тому

    No explanation on how a host nation makes any money back?

  • @nathankohn-magnus6790
    @nathankohn-magnus6790 2 роки тому +9

    How did you get to the number 220 countries? I was not aware that this many existed (I've always seen 193 or 195)

    • @RaymondHng
      @RaymondHng 2 роки тому +15

      They are really counting National Olympic Committees, not countries. Even though American Samoa, Guam, Puerto Rico, and U.S. Virgin Islands are all part of the United States of America, each of the territories has its own National Olympic Committee. So they are four separate teams.

    • @melwinthomas4382
      @melwinthomas4382 2 роки тому

      Haha wow... So glad that someone else too noticed it. Cos even am aware of only 194

  • @kevnev342
    @kevnev342 5 місяців тому +1

    Pay every athlete and stop pimping them

  • @auro1986
    @auro1986 2 роки тому

    how? wsj and sports brands

  • @Alberto-nn3ru
    @Alberto-nn3ru 2 роки тому +24

    The BBC has always broadcasted the Olympics. Some of the facts in here are misstated. However still very insightful!

  • @Amitdas-gk2it
    @Amitdas-gk2it 2 роки тому

    Interesting

  • @alalducente
    @alalducente 2 роки тому +11

    Well they charge for everything and pay for nothing. There no need to finish the video

  • @buckleyi
    @buckleyi 4 місяці тому

    The only winner(£) is the IOC. Best of all, the IOC take no risks. The host countries' bidding also have to pay the IOC to bid. The IOC win regardless

  • @csanton3946
    @csanton3946 2 роки тому +1

    It makes money by using athletes for free, and host country venues for free while it makes a business on broadcasting rights, olympics need to stop

    • @hacc
      @hacc 2 роки тому

      how silly you are. Attending Olympic is the athletes's dream. They are not celebrities so dont say using them for free.
      if it costs too much, developed countries dont host Olympic. Those countries have more tourists, showing a good image to the world and more than that.

    • @technewseveryweek8332
      @technewseveryweek8332 4 місяці тому

      @@hacc
      Using them for free. Just because they have leverage does not mean its not exploitation

  • @worldpeacepp
    @worldpeacepp 2 роки тому +3

    Taking broadcasts, sponsors.. into account as factors to build a model describing how the Olympics dynamically work.

  • @carlo9524
    @carlo9524 2 роки тому

    Simple answer. They don't make money. It's a goodwill. I'm talking about the countries.

  • @philliphwee4966
    @philliphwee4966 2 роки тому

    What does the IOC do with the billions it receives? Where does the money go?

  • @martonhalupa9653
    @martonhalupa9653 2 роки тому +2

    the dance at last 3 sec. priceless :D

  • @epipen22
    @epipen22 2 роки тому +10

    What does IOC do with all the money?

    • @RaymondHng
      @RaymondHng 2 роки тому +1

      Ten percent of the revenue goes to International Olympic Operations. Ninety percent of the revenue supports the staging of future Olympic Games and promote the worldwide development of sport and the Olympic Movement.
      Past contributions to support the Games (in USD million)
      *Olympic Summer Games*
      2004 Athens 9 65
      2008 Beijing 1,250
      2012 London 1,374
      2016 Rio 1,531
      *Olympic Winter Games*
      2002 Salt Lake City 552
      2006 Turin 561
      2010 Vancouver 775
      2014 Sochi 833
      2018 PyeongChang 887
      Past contributions to National Olympic Committees (in USD million)
      *Olympic Summer Games*
      2004 Athens 234
      2008 Beijing 301
      2012 London 520
      2016 Rio 540
      *Olympic Winter Games*
      2002 Salt Lake City 87
      2006 Turin 136
      2010 Vancouver 215
      2014 Sochi 199
      2018 PyeongChang 215
      Past contributions to International Federations, the international governing bodies of each sport (in USD million)
      *Olympic Summer Games*
      2004 Athens 257
      2008 Beijing 297
      2012 London 520
      2016 Rio 540
      *Olympic Winter Games*
      2002 Salt Lake City 92
      2006 Turin 128
      2010 Vancouver 209
      2014 Sochi 199
      2018 PyeongChang 215
      Contributions to the World Anti-Doping Agency (WADA), the International Council of Arbitration for Sport (ICAS), the International Olympic Academy (IOA), the International Testing Agency (ITA) and the International Paralympic Committee (IPC): USD 56 million in 2020
      Past contributions to staging the Youth Olympic Games (in USD million)
      *Summer YOG*
      2010 Singapore 40
      2014 Nanjing 50
      2018 Buenos Aires 64
      *Winter YOG*
      2012 Innsbruck 20
      2016 Lillehammer 35
      2020 Lausanne 26

  • @outsidewell6932
    @outsidewell6932 2 роки тому +1

    Who’s getting the money from selling Bing Dwen Dwen related products?

  • @BatCaveOz
    @BatCaveOz 2 роки тому +6

    How can the Olympics be broadcast to over 220 countries, when the UN only recognises 193 countries? (Plus The Vatican & Palestine)

    • @RaymondHng
      @RaymondHng 2 роки тому +5

      They are really counting National Olympic Committees, not countries. Even though American Samoa, Guam, Puerto Rico, and U.S. Virgin Islands are all part of the United States of America, each of the territories has its own National Olympic Committee. So they are four separate teams.

  • @entergamesq
    @entergamesq 2 місяці тому

    red bull gonna make their own Olympic 😂

  • @Nicolas-uu3jr
    @Nicolas-uu3jr 2 роки тому

    soo, cable? :D

  • @lc285
    @lc285 2 роки тому +3

    IOC- International Olympic Committee.

  • @jauipop
    @jauipop 2 роки тому +2

    Talking about economics of the Olympics but still manage to spare a minute on bashing China.

  • @matherproductions9146
    @matherproductions9146 2 роки тому

    They don’t.

  • @TomNook.
    @TomNook. 2 роки тому +12

    Surely under the Olympics ideal, watching it is a fundamental human right and therefore we shouldn't have to pay for it?

    • @michaelrivera3137
      @michaelrivera3137 2 роки тому +9

      Haha. They dont even pay their athletes, why would they give it away for free?

  • @chomihai
    @chomihai 2 роки тому

    They don’t

  • @TomNook.
    @TomNook. 2 роки тому +1

    7:49 look at that cute boi

  • @kaliehall-to8im
    @kaliehall-to8im Рік тому

    Oylimpc games is very popular gold metal barns and nobles my name is Heather

  • @djp1234
    @djp1234 2 роки тому

    Does anyone still watch the olympics?

  • @mamatheshkumar5711
    @mamatheshkumar5711 Рік тому +1

    monetary food apparel medicines lodging equipments.
    hail the lord!

  • @lahabitaciondelatrapado4621
    @lahabitaciondelatrapado4621 2 роки тому

    Spoiler: they don't

  • @LeechyKun
    @LeechyKun 2 роки тому +8

    How do Capitalist greed and corrupt IOC make money and host Olympics in authoritarian nations.

  • @importantname
    @importantname 2 роки тому +1

    let us put on a show - a business model

    • @importantname
      @importantname 2 роки тому +1

      the business model is get other people (a country) to pay everything required to put on the show, and we take the money claiming that we did it all.

  • @manavmishra9071
    @manavmishra9071 2 роки тому +3

    I love Olympics ❤

  • @jeremyjdl713
    @jeremyjdl713 2 роки тому +1

    NBC has done such a trash job broadcasting the Olympics. Idk why they gave them such long broadcasting contracts.

  • @lewisdawson7347
    @lewisdawson7347 Рік тому

    The expert analysing a billion dollar industry as a stand up in his lounge?

  • @douglasforeman8627
    @douglasforeman8627 2 роки тому

    Past tense. Make money dispecable credit theft. - 1 nation !Spain

  • @boomer6399
    @boomer6399 8 місяців тому

    Mog has lost all the foundations of the Olympic Charter.The games have become completely politicized .Russia and Belarus have been put in a position

  • @darnelllebron3255
    @darnelllebron3255 2 роки тому +1

    i say and i do boycott em.don't watch the games

  • @anthonyyoung6489
    @anthonyyoung6489 2 роки тому +1

    Boycott every company that invests in the Beijing Olympics.

  • @ianhall3945
    @ianhall3945 4 місяці тому

    Yet the athletes dont make that much

  • @deanaivie3005
    @deanaivie3005 4 місяці тому

    Olympic Commitee need to start paying money to the athletes!!!!!

  • @hermitey
    @hermitey 2 роки тому +19

    Imagine if all that money went to scientist or the poor and hungry instead of just a small group of spoiled jocks.

    • @Centre14
      @Centre14 2 роки тому +3

      money won't save poverty. money management does tho.

    • @rajashashankgutta4334
      @rajashashankgutta4334 Рік тому

      ​@@Centre14liquid money does reduce poverty.

  • @marijnsnijders9731
    @marijnsnijders9731 2 роки тому +4

    It's not called Xinjiang it's East-turkistan

  • @SoLazy100
    @SoLazy100 2 роки тому

    Bribes

  • @Jackson-rf6rv
    @Jackson-rf6rv 2 роки тому +3

    How tf is the Olympics still a thing

    • @simrans3675
      @simrans3675 Рік тому

      How tf are you a ting, bruh? Yo, take it easy yo

  • @stevenwashington917
    @stevenwashington917 2 роки тому +5

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      @thefro2867 2 роки тому +2

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  • @mathaithomas8958
    @mathaithomas8958 10 місяців тому

    2012 London Olympics I was implement Olympics lotto it doesn’t succeed hope 2024 France.

  • @michaelrivera3137
    @michaelrivera3137 2 роки тому +6

    I'm disappointed that of all the topics about the Olympics you decided to cover how rich people just throw around money. Why are you not covering the sexual assault of competitors, or how they competitors don't get a livable wage from the organizers? Maybe take some time to showcase how the Olympics leave the cities they go to in financial ruin? What a shame.

    • @RaymondHng
      @RaymondHng 2 роки тому +2

      This is the _Wall Street Journal_ channel. It's all about finance.

    • @ProfAzimov
      @ProfAzimov 2 роки тому

      Its "The Economics of the Olympics"

  • @schnitzelsemmel
    @schnitzelsemmel 2 роки тому +2

    streaming services are already a big part of the TV rights discussions. In Europe, Discovery was chosen over the EBU mostly because Discovery promised to make the Olympic Channel and to monetize all those concurrent streams that have been broadcast for free on the internet by the EBU broadcasters all the years before. The EBU broadcasters eventually got all relevant TV rights anyways, but (outside Germany) all the other streams are only available on Eurovision Player

  • @agrajyadav2951
    @agrajyadav2951 2 роки тому +3

    This year's genocide games are even better

  • @stmbds
    @stmbds 2 роки тому

    why would coca cola advertise so much in china when its known that their cola is being counterfeited there

  • @elvisngenoh7855
    @elvisngenoh7855 2 роки тому

    😎

  • @JinNani224
    @JinNani224 2 роки тому +1

    The Olympics are still a thing????

  • @TheMrPeteChannel
    @TheMrPeteChannel 2 роки тому

    NBC is terrible.

  • @lzeng78
    @lzeng78 2 роки тому +2

    Go china

  • @teamtryxgg281
    @teamtryxgg281 2 роки тому +2

    USA's number 17 on the Beijing Winter Olympics Medals table.
    It's a disgrace and Eileen Gu is responsible for this embarrassment.

    • @ASK-ko9qx
      @ASK-ko9qx 2 роки тому +1

      How ?

    • @iblong9505
      @iblong9505 2 роки тому +1

      No one cares

    • @wg.amster3907
      @wg.amster3907 2 роки тому

      @Team Tryxgg why not blame yourself for not training to excel yourself in one of the winter sport game to help win a medal.
      Hatred is self punishment. Do you think they're feeling bad because you hate them ?

    • @RaymondHng
      @RaymondHng 2 роки тому

      USA is now ranked 3 in the medal table.

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  • @amlanjyotighosh6687
    @amlanjyotighosh6687 Рік тому +1

    Thanks IOC as a big & reputed organization,,,,ICC wants & we the real cricket lovers like to see that cricket as a nice game will be include in Olympics,,,,In cricket game Test & 50 over format both are time wasting,,,So that obviously Test,50 over can't get sit in Olympics,,,,,But last 15 years cricket has been changed dramatically & the game is not a boring game now,,T20,T10 both versions have been started from year 2005 & 2017 & by these 2 shorter versions of the game cricket is now a way of globalization,,Already ICC has 108 nations& all are t20 international status_ The number will definitely increase in upcoming days & T20, T10 both formats are shorter formats & also very enjoyable, entertainment also, also commercialization & by these 2 shorter format game cricket has get many new nations last decades & these 2 formats also get too much popularity in Test playing nations & also associate nations,,These 2 formats will be the future of the game,,,T20,T10 both formats are very easy to learn for all nations,,,,In 2024 T20 world cup USA will co-host with West Indies,,,,So it is request to IOC that please give a chance cricket into the Olympics games by T20 or T10 format in 2028 Los Angeles Olympics in USA 🇺🇸 & definitely Cricket can get a very good platform from Olympics & USA also be a very good part of cricket family,,,All the Best**

    • @gobindachandraghosh6974
      @gobindachandraghosh6974 Рік тому

      Hi friend,,your all sentence in the comments section are very perfect,,,I am agree with you