What can business owners learn from NBC’s Olympic mistake?
The first actual “broadcast” of the Olympics happened on closed-circuit television in Berlin, Germany for the 1936 Summer Olympic games, but it took nearly thirty years until the USA followed suit.
In 1960, CBS paid $50,000 for the rights to broadcast the winter games in the USA—which was the first time the games were aired on television in America. Seeing their investment pay off, CBS doubled down in that same year for the Summer games by spending a whopping $394K (an estimated $3.15 million in today’s dollars) to obtain exclusive distribution rights for the summer games in the USA.
