With The 2024 Paris Olympics Over, Los Angeles Hopes To Replicate Its Historical Financial Success in the 2028 Games
The Olympic torch has been extinguished in Paris, but the flame of anticipation is already burning bright in Los Angeles. As the City of Angels gears up to host the 2028 Summer Games, officials and organizers are taking notes from Paris’ triumphant turn in the global spotlight.
Paris’ Olympic victories: The 2024 Paris Olympics proved to be a resounding success, captivating audiences worldwide and setting new records for host network NBCUniversal. The media giant reported its highest-ever advertising revenue for Olympic programming, surpassing the $1.2B mark. Digital ad revenue also soared, more than doubling that of the 2020 Tokyo Games.
- Peacock, NBCUniversal’s streaming service, shone brightly during the Paris Games, with viewers consuming 17B minutes of coverage across digital platforms.
- According to Marketing Dive, the Paris Olympics attracted a diverse array of advertisers, with over 70% being first-time Olympic sponsors, contributing nearly $500M in revenue.
LA’s Olympic-Sized Infrastructure Investments
As Los Angeles prepares to welcome the world in 2028, the city is embarking on a series of ambitious infrastructure projects to enhance transportation, upgrade venues, and showcase the region’s vibrant culture. The Los Angeles County Metropolitan Transportation Authority is investing $20B to expand bus and rail lines, while Los Angeles International Airport undergoes a $14B renovation.
- The city secured nearly $80M in federal funds for zero-emission buses and electric charging infrastructure.
- LA28, the private group organizing the Games, has an estimated budget of nearly $7B to cover staging costs.
Balance beams to balanced budgets: Los Angeles has a track record of hosting successful Olympics, with the 1984 Games generating a reported $223M profit ($670M in today’s dollars). By utilizing existing facilities like the Coliseum, Rose Bowl Stadium, and SoFi Stadium, LA hopes to minimize costs and maximize sustainability.
While city officials tout the potential economic benefits of hosting the Olympics, some experts caution that the costs can easily outweigh the gains. LA28 chairman Casey Wasserman emphasizes the organization’s commitment to local hiring and spending, while Mayor Karen Bass aims to ensure that the Games benefit small businesses citywide.
