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  • Panasonic Could See Billions in Revenue from Tokyo Olympics


    08/06/14

    The Panasonic 3D Theatre was a major attraction at the London Olympics in 2012. (Getty Images)
    (ATR) TOP Sponsor Panasonic says as much as $10 billion in revenue could be generated from the 2020 Olympics.

    In an interview with Reuters, Panasonic says it hopes to earn $1.5 billion from Olympic contracts and as much as seven times that amount from contracts following the Tokyo Games.

    "The Olympics will, without a doubt, spur the development of new business," Masahiro Ido, the director of Panasonic's Olympic Enterprise Division, was quoted by Reuters.

    "Panasonic is not just a home appliance maker. We have all kinds of technologies, including ones related to social infrastructure," he added.

    Last February, the Japanese audio-visual giant renewed its TOP Sponsorship through 2024. It currently holds the rights to the AV category.

    According to the report, Panasonic is considering a wide range of products to tie in to the Games, including traffic-control systems, cooling technologies, and surveillance equipment.

    Panasonic first became an IOC sponsor in 1987 and can trace its Olympic partnership to the 1984 Los Angeles Olympics.

    Written by Ed Hula III

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