MAM
NBCU sells $1 bn worth ad inventory for Olympics
MUMBAI: NBCUniversal has said it has sold $1 billion worth of national television and digital advertising for the London Olympics $150 million more than what it made in the previous edition.
The ad total includes sales from across NBCU portfolio, including NBC itself, MSNBC, CNBC, Bravo, Telemundo, the NBC Sports Network, NBCOlympics.com, mobile apps and a new 3D channel.
NBCU said its decision to live stream every athletic competition on NBCOlympics.com and, for the first time, on the NBC Olympics Live Extra app for both mobile devices and tablets, significantly contributed to NBCU’s ability to reach $1 billion.
It will stream more than 3,500 hours of content including all 32 sports and 302 medals.
Digital ad sales for London have exceeded $60 million, roughly three times more than the total for Beijing when NBCOlympics.com alone live streamed 2,200 hours and 25 sports. National television ad sales for London games account for more than $950 million, up approximately $100 million from Beijing.
NBCUniversal is presenting 5,535 total hours of coverage of the 2012 London Olympics across NBC, NBC Sports Network, MSNBC, CNBC, Bravo, Telemundo, NBCOlympics.com, the NBC Olympics Live Extra mobile and tablet app, two specialty channels, and the first-ever 3D platform, an unprecedented level that surpasses the coverage of the 2008 Beijing Olympics by nearly 2,000 hours.
“This feat is a testimony to the quality of Olympic programming and the unparalleled way NBCU presents, produces and covers the Games,” NBC Sports Group EVP, Sales & Sales Marketing Seth Winter said in a statement. “It also demonstrates the power of the Olympics. No other property has such as diverse group of sponsors, who can target the broadest range of demographic and psychographic audiences. We are not done yet and will continue to sell during the Games.”
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
