Intangible Olympic Heritage

    When it comes to the operation of the venues after the Olympics, many experts call for more attention to the idea of showcasing both their tangible and intangible properties. "It will add immeasurably to their successful post-Game operation if the intangible property of the venues can be effectively developed and marketed as well," says Lin Xianpeng, executive director of Beijing Olympic Economy Research Association. "As to the 'hard' infrastructure and facilities, we can increase profits through rational planning and efficient use. However, intangible property, like brand influence, has even bigger potential." He concluded, "The experience of developed countries shows that the largest profits from mega-stadiums are made in intangible property, such as naming rights and deluxe private room rental."

    For example, the name "Water Cube" is a trademark. In the summer of 2009, officials at the National Aquatic Center announced the market debut of Water Cube Glacial Water, the first product named after the venue. Soon after, "Water Cube" wine was jointly promoted by the National Aquatic Center and the Guizhou-based Kweichow Moutai Co., Ltd. A short period after that, the naming rights of the Bird's Nest galvanized public attention. According to media reports, many big-name enterprises at home and abroad are still competing for naming rights to the Bird's Nest. The bidders include Chinese computer manufacturer Lenovo, Coca-cola of America, and Germany's Adidas. The best offer so far is US $1 billion.

    However, the development of intangible property isn't always smooth sailing. "Water Cube" glacial water hasn't become the big hit the investors were looking for and consumers seldom find it in the supermarkets. The price tag of RMB 11.8 doesn't help, especially against purveyors of potable water usually retailed at RMB 1 or 2. There is also some controversy brewing about the naming rights of the beloved Bird's Nest. Some people believe that Olympic venues are symbols of national pride and inseparable from their Olympic fame, so a commercial label attached to any one of them now is cause for some discomfort.

    However, Chen Jian, president of Beijing Olympic Economy Research Association, is optimistic about intangible property revenues from the Olympic venues. He reasons that the scale and quality of Beijing venues are comparable to past Olympic cities, and at the same time China's economy is heating up – with a large number of international consortiums headquartered in Beijing. So gaining the naming rights of the Bird's Nest is an exceptional opportunity for enterprises to publicize and expand their brand influence. Conditions for developing intangible property, in many ways, couldn't be better. Beijing, the deep heart of the country's sports success, is also a favorite of international sports organizers. It can't help but attract more and more cultural and sporting events.