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Business

Olympics in prime time means pain for U.S. restaurants

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Opening sequence

Business

Olympics in prime time means pain for U.S. restaurants

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COMING UP:Olympics in prime time means pain for U.S. restaurants

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Transcript

00:00:00
>> The Olympic Games in Rio puts them in a timezone friendly to American sports fans, more competitions will air during US prime time than when the Games were in say, Sochi. And that's a huge win for Comcast, which owns NBC and has the exclusive rights to broadcast the games in the US, but it's a punch in the gut for other companies that rely on advertising dollars.
00:00:22
Reuters reporter, Malathi Nayak.>> When you look at NBC, they've hit 1.2 billion in ad sales already and it seems like the other companies, what they've said, Viacom, and such, is that their ad sales will suffer. What they say is that when there's the Olympics, a lot of ad money gets sucked out of the ad market because all the advertisers, big sponsors, want to spend all their ad dollars on Olympics' content.
00:00:46
>> It's not just a challenge for rival networks, with Games airing during dinner hours, big box family restaurants such as The Cheesecake Factory, Texas Roadhouse and Chuy's Mexican are predicting emptier dining room as people stay at home, or hit a Buffalo Wild Wings to watch the Games instead.
00:01:02
Live sports still the biggest challenger to the cord-cutting movement, Netflix is anticipating a drop-off in subscribers as customers take a break from the marathon binge watching to catch the 100-meter dash. Rio's expected to be the most watched Olympics ever.