Sponsor Spotlight -- Sochi Olympics Buoy Spending; Speedo Signs Olympians

(ATR) Advertising in the United States was up 5.7 percent in the first part of 2014 compared to 2013 due to the Sochi Olympics.

The United States spent $34.9 billion on advertising in the first quarter of 2014.

Network television spending had a 14.5 gain from 2013, in which the 2014 Winter Olympics played a major role. Kantar Media reported that half of that gain came from the Olympics alone.

"The Winter Olympics delivered its expected windfall in the first quarter, adding about $600 million of incremental ad spending to the marketplace," Jon Swallen, the chief research officer at Kantar Media North America, said in a statement.

The ten largest advertisers in the United States accounted for $4.4 billion of the spending, a 14.1 percent increase from last year. Of the ten sponsors, General Motors, AT&T, Comcast, Pfizer, Berkshire Hathaway and IOC TOP Sponsor Procter & Gamble contributed the most during the Olympics.

"Subtracting the Olympics’ contribution, the growth rate for remaining expenditures was just under four percent."

U.S. Swimming Stars Sign With Speedo

Swimmers Natalie Coughlin andElizabeth Beisel will wear Speedo gear through the Rio 2016 Olympics.

The Olympic medalists from the United States have worn Speedo in the past. Coughlin is renewing her contract with the international swimwear company, while Beisel wore the brand while swimming at the University of Florida.

"Natalie has been a valued member of Team Speedo for ten years, and we’re looking forward to continuing that partnership," Sean Hastings, vice president of product and marketing at Speedo International said in a statement.

"As a member of Team Speedo, Beisel joins an athlete advisory group to Speedo Aqualab and will train and compete in Speedo suits, accessories and related gear."

Written by Aaron Bauer

Homepage photo: Getty Images

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