612. Is Macy’s Thanksgiving Parade Its Most Valuable Asset?

This two-part episode of Freakonomics Radio delves into the hidden economics behind the Macy's Thanksgiving Day Parade. With nearly 30 million viewers on TV and millions more attending in person, the true costs—ranging from helium and balloon construction to city services and security—are mostly kept under wraps by Macy's. The episode features insights from parade organizers, NBCUniversal executives, the creator of the "Diary of a Wimpy Kid" balloon, and New York City officials, highlighting the massive logistical effort and the intricate relationships between Macy's, its sponsors, and the city. Ultimately, it raises questions not just about the parade's expenses but also about Macy's ongoing relevance in today's evolving retail environment.