The significance of the 2020 Paralympics
The 2020 Tokyo Paralympics kicked off yesterday with opening ceremonies. CG Sports Paralympic athletes McKenzie Coan and Colleen Young are slated to compete in swimming, which kicks off today.
The 2020 Paralympics Games are historic for several reasons which I would like to highlight below:
Paralympic Prize Money Now Equal to Olympic Levels: For the first time in history, a Paralympian who wins a gold, silver or bronze medal in the Paralympics will earn the same prize money amount as their Olympic counterparts. For a USA Paralympian, instead of winning $7,500 for Gold - they will now earn $37,500 for gold. This is an increase of 400 percent, which can be a life changing amount for any athlete. The costs of training, travel, competition are often higher for Paralympic athletes than Olympic, so this is big step in the right direction. This change will allow Paralympians to extend their careers, hire more coaching assets to their training program and pay back the debt that comes with putting your life on hold to chase your dream.
NBC 1,200 hours of live TV coverage: Paralympics will also be receiving an enormous boost in television coverage for the 2020 Games. More TV hours means more advertising inventory for the network to sell and more opportunities for sponsors to invest in the Paralympics. This will also push the exposure for athletes to more people, companies and sponsors in a huge way. It’s a rising tide that will lift all ships in this space. I’m excited for the impact this will have on athletes after Tokyo and in the lead up to Paris 2024. That’s right - Paris 2024.
Sponsors are LOVING working with Paralympic athletes: Corporate sponsorship is a big market for Paralympic athletes. I believe there will be a big space for this immediately following the Games as many new corporate partners will be exposed to these amazing athletes for the first time via the 2020 Games. My forecast is that there is a huge window for non-Olympic/Paralympic corporate sponsors to invest in a ton of Paralympic athletes who blow up over the next two weeks. Paralympians are often some of the best corporate ambassadors and public speakers you will ever encounter. The opportunities ahead in this market is really exciting - just need someone to help them connect the dots:)
Follow our Paralympic athletes Colleen and McKenzie here: https://www.cgsportsco.com/newsletter/cg-sports-tokyo-tracker-axs5e
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