Morning Consult Brands: Tokyo 2020 Chief Does Not Rule Out Calling Off Summer Olympics


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July 21, 2021
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  • Toshiro Muto, who runs the Tokyo 2020 Olympics organizing committee, did not rule out a last-minute cancellation of the games, if the COVID-19 situation worsens, saying he would continue to watch infection numbers and have further conversations with organizers if necessary. A Tokyo 2020 spokesman added later that organizers were “concentrating 100% on delivering successful Games.” (Reuters)
  • AT&T Inc. is in talks to sell ad unit Xandr to Indian ad tech company InMobi, according to sources, who said the telecommunications giant mismanaged the unit and is losing tens of millions of dollars annually. Some sources said a $1 billion sale would be considered a success for AT&T, though people familiar with the company’s financials believe such an asking price is too high. (Axios)
  • Netflix Inc. projects it will add 3.5 million new subscribers in the third quarter, up from 2.2 million during the same time in 2020, despite signing up just 1.5 million new users globally in the second quarter. Netflix also laid out plans to add video games to the service, a new category aimed to attract nonsubscribers. (Variety)
  • Omnicom Group Inc. saw positive organic revenue growth for the first time since the pandemic began, reporting a year-over-year increase of 27.5 percent from $3.6 billion from $2.8 billion during the second quarter. Looking ahead, Chairman and Chief Executive John Wren said he predicts a rise in business activity for a wide range of sectors, including packaged goods and retail, and added that the holding company plans to hire more employees once new business comes in and clients start spending again. (Ad Age)

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