Mike Shields, the former advertising editor for Business Insider who is now CEO of Shields Strategic Consulting, argues that despite NBCUniversal being able to financially recover from the 2020 Tokyo Summer Olympic Games being cancelled, the effects on the media industry would be disastrous.
The Games are scheduled to occur from July 24 to August 9, but the coronavirus spread caused them to be postponed until the summer of 2021.
That means fewer people will pay attention to network broadcasting over the summer, which has been happening already with the rise of streaming services.
And delaying the Tokyo Games leaves time for younger generations to lose interest in their importance.
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There’s no question that a cancellation of this summer’s Tokyo Olympic Games would be extremely painful in the short term for NBCUniversal, given that billions in rights fees and ad sales are on the line.
What’s perhaps harder to calculate are the potentially devastating ripple effects that would emanate from such a dire decision (which let’s hope does not happen).
The Games — scheduled to occur from July 24 to August 9 — were just postponed until next summer, like so many other events that have …read more
Source:: Businessinsider – Technology