As skepticism about hosting the Tokyo Olympics, scheduled for July, is rising again, attention is drawn to the TV industry, which expects special sports events.
According to the Yomiuri Shimbun on the 9th, a survey conducted recently showed that 61% of respondents wished to postpone or cancel the Tokyo Olympics. In opinion polls such as Kyodo News, Asahi Shimbun, and Sankei Shimbun, more than 80% of respondents wanted to cancel or reenact the Olympics.
Accordingly, there are voices of concern that TV makers, including Samsung Electronics and LG Electronics, which are ranked first and second in the global TV market, will not be able to enjoy the special Olympic Games.
This is because it is a common cycle that the year of the Olympics is that the consumer’s desire to watch the game on a large, high-quality TV and the promotion events of major companies coincide with each other, leading to an increase in TV sales. In particular, as it opens in July, which is the off-peak season in the TV market, it helps to improve sales.
Looking at the sales of TV in the past, it can be seen that the market has grown ahead of sports events such as the Olympics. According to Lotte Hi-Mart, sales of large-sized TVs sold in the month just before the 2012 London Olympics increased by 25% from the same period the previous year. The 2014 World Cup in Brazil also saw a 35% increase in large-sized TV sales in the month preceding it. It also increased by 15% at the 2016 Rio Olympics.
For Samsung Electronics, the calculation method can be more complicated. This is because Samsung Electronics secures exclusive marketing rights as’TOP’ (The Olympic Partner), the official sponsor of the top-rated Olympics by the International Olympic Committee (IOC). This year, the opportunity to promote and market its TV may disappear.
Others are also commenting that the effect of the cancellation of the Tokyo Olympics reenactment, as in last year, will have a negligible impact on the global TV market.
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As the Tokyo Olympics collapsed last year, concerns were raised in the global TV market, but due to Corona 19, there was a record-breaking boom. Following last year, there are also forecasts that the global TV market will continue to see solid demand this year.
According to the market research firm Trend Force, shipments in the global TV market this year are expected to record 223 million units, a 2.8% increase from the previous year, as TV demand increased significantly due to the increase in non-face-to-face economic activity.