A jocund Randy Falco, president of the NBC Television Network, reported Thursday that the Winter Olympic Games have brought a much needed shot in the arm to the battered TV industry, still suffering from the near-universal slowdown in adspend.

NBC’s sales meter has clocked an unexpectedly muscular $720 million in commercial revenues during the 375.5 hours of coverage from Salt Lake City starting tonight. “We're happily at our goal,” beamed Falco, with commercial time on CNBC, MSNBC and NBC “virtually sold out” until the event’s closing ceremony on February 24.

“We went through some incredible frustrations and turns,” he added. “First the economy, then the terrible September 11 disaster. So to reach this [level of sales] is one of the more extraordinary things I've seen.”

Data sourced from: New York Times; additional content by WARC staff