Xinhua news agency reports that Beijing’s Olympic marketing campaign is going so well that the 2008 Games could generate millions of dollars in profits, surpassing Los Angeles’ 1984 Olympic profit record of $220 million.
Beijing 2008 organizers already have 10 domestic sponsors on top of the 11 companies that had signed global sponsorship deals with the IOC, reports Xinhua.
Yuan Bin, director of BOCOG’s marketing department, revealed that some of the organizing committee’s domestic sponsors pay even higher fees than the International Olympic Committee (IOC) global sponsors, or TOP sponsors.
Jiang Xiaoyu, vice president of Beijing 2008 said, “we would like to see $1 billion in sponsorships, but there is much to do to reach that figure”.
He said, “the prospects of the marketing program are quite positive”.
Yuan said the marketing program’s success stemmed from a clear package that outlined the rights and benefits of all sponsors. “We have worked closely with these companies to ensure they can maximize their brands’ exposure. We have pursued a win-win situation. Yes, we get money, but we also enhance the image of the companies involved”.
BOCOG’s marketing campaign got a further boost when five dolls named the Friendlies were unveiled last month as the mascots for the 2008 Games. Lai Ming, deputy director of BOCOG’s marketing department said, “the launch of the mascot will push sales of Olympic products to new heights. We believe the sales volume will be bigger than the previous Olympic Games”.
BOCOG is also expanding the licensing program with plans to open more merchandise stores across China and overseas.
Ticket sales for the Games are expected to start in the first half of 2007. Profits from the sales of the five mascots could reach as high as $300 million, reports Xinhua.
By 2008 Beijing expects to have spent nearly $40 bill for the Games, most of which will go to build new roads and subway lines and improving the city’s power grid and environment.
Meanwhile, an automatic subway ticket system will be fully put to use as of 2007 the Beijing Subway Operation Co. said Friday.
Automation machines for subway cars will be installed on two subway routes to do away with paper tickets in the future.
