Macy's views the parade as its annual gift to the nation, and it's a tradition not to discuss the costs associated with such a gift.
The parade attracts millions of spectators and TV viewers, generating significant economic activity and showcasing the city on a global stage.
The main challenges include weather conditions, particularly wind, and the logistical complexity of managing a multi-mile event with thousands of participants and spectators.
Macy's maintains a close relationship with helium suppliers and plans ahead to ensure a steady supply for the parade balloons.
The city provides essential services such as security, sanitation, and traffic management, making the event possible.
The parade is a blend of tradition and modernity, featuring iconic elements and new additions each year, which helps maintain its relevance and appeal to a broad audience.
NBCUniversal's coverage of the parade is a major event in its annual programming, attracting a large TV audience and generating significant ad revenue.
The studio conducts thorough inspections and tests, including dry runs and wind simulations, to ensure the balloons are safe for the parade.
The parade generates substantial TV ad revenue and serves as a significant marketing tool for the brand, attracting millions of viewers and potential customers.
The parade has evolved over the years, incorporating modern elements while preserving historical traditions, mirroring Macy's efforts to stay relevant in a changing retail landscape.
The 166-year-old chain, which is fighting extinction, calls the parade its “gift to the nation.” With 30 million TV viewers, it’s also a big moneymaker. At least we think it is — Macy’s is famously tight-lipped about parade economics. We try to loosen them up. (Part one of a two-part series).)
Please take our audience survey at freakonomics.com/survey).
SOURCES:
John Cheney, carpenter at Macy’s Studios.
Will Coss), vice president and executive producer of Macy’s Studios.
Jeff Kinney), author, cartoonist, and owner of An Unlikely Story Bookstore and Café.
Kevin Lynch), vice president of global helium at Messer.
Jen Neal, executive vice president of live events and specials for NBCUniversal Media Group.
Tony Spring), chairman and C.E.O. of Macy's Inc.
Jessica Tisch), commissioner of the New York City Department of Sanitation; incoming commissioner of the New York City Police Department.
Dawn Tolson), executive director of Citywide Event Coordination and Management and the Street Activity Permit Office for the City of New York.
RESOURCES:
Macy's: The Store. The Star. The Story.)*, *by Robert M. Grippo (2009).
History of Macy's of New York, 1853-1919: Chapters in the Evolution of the Department Store), by Ralph M. Hower (1943).
EXTRA: