24hoursworld

X-ray of the Paris 2024 Olympic Games: more sponsorship, but less ticket sales

X-ray of the Paris 2024 Olympic Games: more sponsorship, but less ticket sales

Sixty days until Paris 2024. From July 26 to August 11, the thirty-fourth edition of the Olympic Games and, for the third time in history (after London), Paris will repeat as host of the Olympic event. Just over two months before the start of the Olympic Games, Where is your organization?

The organizing committee of the Paris 2024 Olympic Games approved a budget of US$ 4,755 million, a figure that falls short, according to Pierre Moscovici. The president of the French Court of Accounts considers that the Olympic event will have an impact of US$5,425 million on the public coffers of the French country.

The budget of the Games Paris 2024 Olympic and Paralympic Games It will increase by 10% compared to Tokyo 2020 (which were finally held in 2021 due to the pandemic caused by Covid-19). Of this increase, around US$217 million corresponds to the effects of inflation.

There are several sources of income for Olympic Games: separate subsidies, Sponsorship contracts and ticket sales are the big money generators for the organization. Specifically, it is estimated that one third of the total income corresponds to the sponsorship area and another third to ticketing.

According to a report prepared by Sports Business, with two months to go until the start the organization improved its expectations for sponsorship income, while tickets are a little behind its calculations. At the end of November 2022, The organization set the goal of raising US$1,195 million with sponsor contractsa figure that rose to US$ 1,345 million after the modification of the global budget.

JJOO2024.png

The budget for the 2024 Olympic and Paralympic Games will increase by 10% compared to those in Tokyo. Of this increase, around US$217 million corresponds to the effects of inflation.

X.com

Now, two months before the start of the Olympic Games, the organization of Paris 2024 considers that “can surpass an already rising target“, according to the report. Until now, the organizing committee of Paris 2024 (Cojop) closed 64 national sponsorship agreements in the premium associate category, while in the official associate category the number drops to thirteen.

For their part, the Paris 2024 Olympic Games They will have 44 official partners, who will accompany the fifteen sponsors considered Olympic top. The executive director of Cojop considers that this last number could rise to 80 sponsors before the start of the Olympic event, which would exceed the objective above US$ 1,410 million.

Tickets

On the contrary, ticket sales are not reaching the desired objective, despite starting with a boom in modalities such as climbing and freestyle, which sold out all the available tickets the same day the organization put them on sale.

It is estimated that ticket sales will report revenues of US$ 1,520 million and, although the organization does not doubt that this amount will be reached, the number of tickets sold at the end of May is slightly lower than expected. In total, around ten million tickets will go on sale and, so far, eight million have been sold. Therefore, the organization must sell about 33,300 tickets a day until next July 26.

The Paris 2024 Olympic Games will bring together around 10,000 athletes that will compete in 32 different modalities, among which is the break dancewhich debuts at the Paris event, or the skateboardingclimbing and surfing, which they repeat for the second time in history.

The Ukrainians will join the previous athletes, after the Ukrainian Sports Minister, Matviy Bidnyi, confirmed this from kyiv (Ukraine) on May 21.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts