EXCLUSIVE: Blue chip advertisers including Qantas and McDonald's are sponsoring Macquarie Radio Network's (MRN) Olympics radio coverage, with the broadcaster claiming it has already hit its financial targets.
Other sponsors to jump on board the Olympics package are Foxtel, Daikin Air, Western Union, Konica and Kuhmo Tyres.
MRN group sales and marketing director Mark Noakes said the company has already passed its financial targets for the games. While he would not confirm an exact amount, he said it was “millions of dollars”.
He also said a number of other sponsors are yet to be confirmed.
The industry has been closely watching the Nine Network in recent weeks, with media buyers and analysts suggesting the network could lose between $20 million and $30 million on the games.
However, Noakes said the radio broadcaster does not face the same problems.
“Sure, the market has been tough, it's been a bit late, but we are coming home strong. We're going to be about 50% up on the last Olympics, and have already passed our targets.
“We will not lose money on the event. For television broadcasters, there are much higher production costs and rights costs, but these are considerably lower for radio. But keep in mind, for all media owners, there will be a positive knock on effect for ratings.”
Noakes said the time zone difference will have a positive impact for radio.
Advertisers are recognising radio will play an important role in the Olympic Games. Because of the time difference, people will be waking up and wanting to know what is going on. It is ideal for breakfast radio, people will be listening on their way to school or work.
“This really plays to radio's strengths, because our strongest session is breakfast.”
MRN is the official Olympics radio broadcaster, and has teamed up with Fairfax Radio for national coverage.
Noakes said the above sponsors are MRN sponsors. He said some of them are national, but would not confirm which sponsors cross both MRN and Fairfax.
Follow @AdNews on Twitter for breaking stories and campaigns throughout the day.
Have something to say? Send us your comments using the form below or contact the writer at email@example.com
The AdNews Media Summit is on 19 May, 2016. A top line of of the industry's smartest thinkers will debate the biggest topics in media, advertising, marketing and creativity. Don't miss it, buy tickets here. Buying 5 tickets or more earns you a discount.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at firstname.lastname@example.org