Is Macy’s Thanksgiving Parade Its Most Valuable Asset? (Update)

In this episode of Freakonomics Radio, Stephen Dubner explores the economics behind the Macy's Thanksgiving Day Parade, a beloved annual tradition. Dubner interviews key figures involved in the parade's production, including Will Coss, the parade's executive producer, Jen Neal from NBCUniversal, and Jeff Kinney, author of Diary of a Wimpy Kid, to uncover the costs, revenues, and logistical challenges of staging such a large-scale event. The episode delves into the expenses of building and maintaining balloons and floats, the involvement of city services like the NYPD and sanitation, and the advertising revenue generated by the television broadcast. Despite facing challenges in obtaining precise financial details due to Macy's reluctance to disclose them, the episode sheds light on the complex commercial venture behind the parade and its significance as a marketing platform for brands.