Panasonic Ends 37-Year Sponsorship of the Olympics Amid Strategic Shift

TOKYO – Panasonic Holdings has announced it will terminate its 37-year sponsorship of the Olympic Games following the conclusion of the Paris Games. The Osaka-based company, which first partnered with the Olympics in 1987 and extended its support to the Paralympics in 2014, cited strategic business considerations for the decision.

Panasonic has played a significant role in the Games, providing technology and services, including Technics turntables for the breaking event in Paris last month. This move follows Toyota Motor’s decision to end its own Olympic sponsorship, marking the conclusion of a 10-year contract.

The International Olympic Committee (IOC) reported that top sponsors contributed US$2.295 billion in revenues from 2017 to 2021, making it the second largest revenue source after broadcasters, who paid US$4.544 billion during the same period.

In a statement, Panasonic explained that the decision was part of a broader review of its sponsorship strategy. IOC President Thomas Bach expressed understanding and respect for Panasonic’s decision, noting that the partnership is ending on amicable terms.