Good morning.
The Paris Olympic and Paralympic Games are now a month away, with almost 15,000 athletes poised to compete for medals in 32 sports, including ‘breaking’ or break-dancing. Caitlin Clark wasn’t invited to join USA Basketball, but stars like Simone Biles, Katie Ledecky, Scottie Scheffler, Coco Gauff, and Steph Curry are expected to go.
Marketers are betting big on Paris, with record marketing spend by brands like Nike and Olympic media rights revenue up 20% over the COVID-era Tokyo 2020 Games. The ads are already rolling at a Super Bowl-like pace. (This one from Deloitte, which sponsors this newsletter, is up there with P&G’s “Thank You Mom” from Rio in 2016.)
