The 2021 Olympic Games are in full swing and yet everywhere they look, viewers see the phrase” Tokyo 2020 “.
That seems strange on the surface. Sure, the Olympic Games were originally planned for 2020, but obviously they will take place in 2021.
So why didn’t the organizers decide to change the year of the Olympic Games? ? As usual, it boiled down to one simple thing: money.
A source from the Tokyo Organizing Committee told Yahoo Sports that production of” Tokyo 2020 “merchandise had started before the games were postponed by the COVID-19 pandemic . Therefore these products would be useless if the organizers changed the name.
Last year in March Torches, medals, other branded items and merchandise were already produced under the name “Tokyo 2020” and a name change would have resulted in additional costs.
Like sports marketers Michael Lynch pointed out, intellectual property is “the most important asset” for the IOC, so any kind of change would have been unnecessary and costly.
“The main advantage of the IOC and Tokyo o The organizing committee is selling its intellectual property and related brand value associated with the brands, logos, names, symbols, etc.,” Lynch told Yahoo Sports. âAll Olympic intellectual property is branded in 2020, including the IOC and [Organizing Committee] creatives, sponsoring creatives, advertising creatives, advertising creatives, licensed merchandise, tickets, onsite signage, events, etc. It would be a tremendous and unnecessary hassle to change all of these Olympic IPs . â
That explains why The IOC quickly announced the name will remain” Tokyo 2020 “regardless of when they take place. It has been confirmed that the name will be retained on March 24, 2020 in the early stages of the COVID-19 pandemic.
It was also agreed that the Games would keep the name Tokyo 2020 Olympic and Paralympic Games.