Toyota Inks Nearly $1 Billion Olympic Sponsorship Deal
Toyota has signed a deal as a global Olympic sponsor in a six-year partnership that includes the 2020 Tokyo Games on Toyota’s home turf.
The deal is reported to be worth nearly $1 billion, a record for any International Olympic Committee sponsorship deal. It will include exclusive worldwide marketing rights and the use of the Olympic rings in marketing and advertising. This article gives us all the details.
Globally, IEG forecast 4.1% sponsorship spending growth last year to $55.3 billion. Excluding North American spending, sponsors from all other parts of the world were expected to increasing spending 3.9% last year to $34.7 billion. Spending by North American companies was projected to rise just 4.3% last year to $20.6 billion.
Although sponsorship is still seeing steady growth, corporate interest in other marketing alternatives, particularly digital (including social and mobile) media, has dampened enthusiasm for significantly increasing sponsorship spending. However, as more marketers discover the ability to drive positive ROI by integrating digital and sponsorship efforts, the effect should be stronger growth for both segments, IEG said.
As is the case with Toyota, spending on large more prestigious properties remains robust, while increases in spending directed toward smaller rights holders—especially those outside the sports and entertainment segments—were expected to be below 2%, according to IEG.
