The Olympics have begun, and by the end of it all, after 16 days in Rio, some athletes will come away as gold-medal winners, and others will go home disappointed. The same will be true for a handful of American companies.

The bulk of ad dollars are going to Comcast-owned NBC Universal (CMCSA) because it is the exclusive host of the Olympics, so NBC is where the viewership will be. The losers, on the other hand, are likely to be big-time cable channels that aren’t carrying the Olympics, including ABC (DIS), CBS (CBS), and FOX (FOX).

The Olympics “will drive share of ad spend to NBCU in Q3, which we think will result in network advertising revenue declines for CBS, FOX, and ABC,” says Deutsche Bank analyst Bryan Kraft in a note.

And this leaves slim pickings for ABC, CBS and Fox, until the Olympics end.

Similarly, any company with skin in movie rentals, like Outerwall (OUTR), the owner of Redbox rental kiosks and Coinstar machines, will be negatively impacted. More people will watch the Olympics than rent a movie during the Games. But research firm Piper Jaffray, for one, thinks the movie market is strong enough to make up for it over the rest of the year, and isn’t adjusting its full-year earnings forecasts.

Netflix (NFLX) is also likely to get hit by the Olympics in its third quarter. This may seem strange at first blush, since Netflix gets paid a set price per subscriber, rather than payment being based on viewership numbers. In theory, all of Netflix’s customers could watch nothing, and the company would still make as much money.

But in practice, people tend to cancel their Netflix service when they realize they’re not using it enough. The amount of people ditching Netflix is known as its “churn rate,” and it was a big factor in Netflix’s disappointing Q2 earnings. Netflix also overtly cited the Olympics as a reason for lower-than-expected subscriber guidance for Q3, in their Q2 earnings call back in July.

On the bright side for Netflix investors, RBC notes that their latest surveys don’t suggest an imminent increase in the churn rate.

Lastly, Twitter (TWTR) will benefit from the Olympics (due to higher engagement), but it’s going to be much less of a winner than initially expected, according to JP Morgan analyst Doug Anmuth. Anmuth says Twitter’s low guidance for the third quarter (12% below JPMorgan’s estimates) means that Twitter can see it will get “less benefit than expected from major events like the Olympics.”

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Rayhanul Ibrahim is a writer for Yahoo Finance.

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