(ATR) Changes ahead for the Olympic Movement are increasing corporate interest in the Games, says the IOC marketing chief.
Timo Lumme, the marketing director for the IOC, said in a recent interview that the Olympics are "in a sort of transition," referring to the Olympic Agenda 2020. IOC president Thomas Bach introduced the proposal as a way to modernize the Olympic Movement.
Lumme said the changes on the horizon have created a sense of excitement for the Games.
"A real proof point of that is that the corporate sector has shown an unprecedented interest in the Olympic Movement, the IOC, and the Olympic Games in general. It means there are a lot of conversations."
Those conversations, he said, could lead to more new TOP Sponsors.
On Friday, Japanese tire manufacturer Bridgestone joined the ranks of TOP Sponsors.
Lumme added that the Agenda could prompt the TOP Program to change. He declined to specify how the program might change.
"What we’re not going to do is suddenly unveil a new model. It’s really a launch of the same model, but we keep adding bits or we may change bits to make it better."
One possible change is in the number of TOP sponsors. Traditionally, the IOC capped the number at 12. That allows for organizing committees and national Olympic committees to have their own sponsorship programs.
"Ultimately, what really underlies that is that you want to find the optimal funding solution for the movement," Lumme said. "It’s really driven a little more by the economics of the marketplace. We’re looking at the funding of all Olympic partners."
The IOC currently has 11 TOP sponsors.
Tokyo 2020 could prove to be a financial windfall for the Games, Lumme predicted.
When he visited Tokyo with Bach earlier this year, more than 200 CEOs and CMOs from over 80 organizations, both Japanese and international, attended a corporate day with the IOC. Additionally, he said Japan has an "Olympophile" population with a "huge appetite for all things Olympic," which could drive corporate participation in the Olympics.
PyeongChang, despite still not having signed its first sponsor with less than four years to go, will have a robust marketing program, Lumme insisted.
"It’s always easy from the outside looking in and you tend to be judgmental; there’s issues to overcome in each city.
"From a big picture perspective, we’re very happy with the progress of PyeongChang. They’re doing a lot of good things.
He added that it is a very recent phenomenon that sponsor activation for an organizing committee would start before the preceding Games have finished.
"This is a trend that’s perhaps been slightly checked by PyeongChang, but I’m absolutely sure they’ll be successful."
Written by Ed Hula III
Homepage photo: Getty Images
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