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Olympians are cashing in on side hustles

Aug 15, 2024

Olympians are cashing in on side hustles

Although winning a gold medal at the Olympics comes with $20,000 in prize money, many Canadian athletes have turned to side hustles to cover their expenses. Sure, that gold medal looks like it’s worth a lot, but in reality, three out of five Canadian athletes are in debt trying to cover training and living expenses. That’s why many of Canada’s sports stars are leveraging their popularity to cash in on lucrative side hustles on social media. Take Canadian pole vaulter Alysha Newman, for example. She just won a bronze medal (and the $10,000 prize that goes with it), but it’s her side hustle on OnlyFans that’s really helping her out. By sharing behind-the-scenes sports content for subscribers who pay $12.99 a month, she’s been able to buy property and grow her savings. Even athletes with multiple medals (hey, Summer McIntosh!) are relying on social media brand partnerships to boost their income. McIntosh showcases products from sponsors like TAG Heuer, Red Bull, and Funkita Swimwear on her Instagram. And while some athletes might earn for posting during the Olympics, it’s also about creating a personal brand that lasts beyond the Games. Olympic track cyclist Nick Wammes points out that athletes in less popular sports often only get sponsorships during the Olympics and are mostly forgotten afterward, leaving them “broke” until the next Games.

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