The 2021 Olympics are in full swing, and but in every single place viewers look, they see the phrase “Tokyo 2020.”
On the floor, that appears unusual. Certain, the Olympics had been initially scheduled for 2020, however clearly they’re being held in 2021.
So why did not the organizers determine to alter the 12 months of the Olympic Video games? Per standard, it boiled down to 1 easy factor: cash.
A Tokyo organizing committee supply told Yahoo Sports that manufacturing of “Tokyo 2020” merchandise had begun earlier than the Video games had been postponed by the COVID-19 pandemic. As such, these merchandise can be rendered ineffective if the organizers modified the title.
Final 12 months in March, torches, medals, different branding gadgets, and merchandise had been already being made utilizing the title ‘Tokyo 2020’ and a reputation change would have meant extra prices.
As sports activities marketer Michael Lynch detailed, that mental property is “the first asset” for the IOC, so any type of change would have been pointless and expensive.
“The first asset the IOC and Tokyo Organizing Committee sells is its mental property and the corresponding model fairness related to the marks, logos, designations, symbols, and so on.,” Lynch advised Yahoo Sports activities. “All that Olympic IP is branded 2020, together with IOC and [organizing committee] inventive, sponsor inventive, promoting inventive, promotional inventive, licensed merchandise, tickets, on-site signage, occasions, you title it, all about to hit the market. It might be an unlimited and pointless expense for all of this Olympic IP to be modified.”
That explains why the IOC was quick to announce the title would stay “Tokyo 2020” no matter once they had been held. It confirmed the title would keep on March 24, 2020, within the early phases of the COVID-19 pandemic.
It was additionally agreed that the Video games will hold the title Olympic and Paralympic Video games Tokyo 2020.
Contemplating the opposite losses the IOC and Olympics have handled due to followers not having the ability to current on the Video games, holding the title was the prudent transfer. Nonetheless, whereas the logos and merchandise will say 2020, many followers and Olympic fanatics (and SN) will seek advice from the Video games because the 2021 Olympics.