THE OLYMPICS is worth £30.8bn and is the second most valuable brand in the world, second only to electronics giant Apple, according to a new study.
Its value has soared since the last Games in Beijing, owing to a growth in revenue of 38 per cent, which has been driven by huge increases in income from the sale of broadcast rights.
The valuation, by consultancy Brand Finance, estimates the Olympics brand to be worth more than its sponsors Coca-Cola, Visa and Panasonic combined.
“There is no doubt that the Olympics brand is a formidable revenue generator and has huge value,” said David Haigh, chief executive of Brand Finance. “It is also expected to produce a net benefit to the UK economy of more than £16.5bn.”
Meanwhile London 2012 organisers have denied that fears over security at the Olympic Park are behind plans to trim the duration of next week’s opening ceremony.
The production, directed by Oscar winner Danny Boyle, has been “tightened” rather than cut, a spokesperson added.
“It starts at 9pm and will finish between 12am and 12.30am, as we have said all along,” said director of communications Jackie Brock-Doyle. “Currently it is running slightly over that, so we need to make sure, and the ceremony teams are making sure, that it is within the slot we have always said it would fit into.”