I think everyone saying they spent $5M on the Olympics might be wrong.
At the time, they company had annualised marketing expense of call it $5M per year, or $2,5M per half.
In the Olympics half, they spent $5M, which would mean they spent $2,5M ON THE ACTUAL Olympics placement. Now, I could be wrong about this, and maybe they actually turned off ALL other marketing across that 6 months, but that doesnt seem to make sense to me.
$2,5M for Brand establishment for a Company making revenues of $60M last year, doesnt seem that bad an investment. But maybe Im being too kind to them?
Anyway, Im clearly wrong here, as I think this Company still has all the hallmarks of what it takes to build a $1B Company, and has the revenue and profitability mapped out before it over the next 2-3 years years. But everyone else seems to think otherwise at the moment. So not sure what Im missing.
I think everyone saying they spent $5M on the Olympics might be...
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