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Freakonomics Radio

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

Freakonomics Radio

Freakonomics Radio + Stitcher

Documentary, Society & Culture

4.632K Ratings

🗓️ 27 November 2025

⏱️ 53 minutes

🧾️ Download transcript

Summary

The iconic department store calls the parade its “gift to the nation.” With 30 million TV viewers, it’s also a big moneymaker — at least we think it is: when it comes to parade economics, Macy’s is famously tight-lipped. In this 2024 episode, we try to loosen them up. (Part one of a two-part series.)

Transcript

Click on a timestamp to play from that location

0:00.0

Hey there, it's Stephen Dubner.

0:04.9

Happy Thanksgiving.

0:06.4

The episode you're about to hear was originally published in 2024, and it is about as Thanksgiving as it gets.

0:13.2

We have updated facts and figures where needed.

0:16.1

As always, thanks for listening.

0:31.1

I really only started paying attention to the Macy's Thanksgiving Day parade about 10 years ago when my family and I moved into the neighborhood where the parade starts and where the night before they stage everything. This is on

0:39.1

the Upper West Side of Manhattan. They take over two extra wide streets to lay out the giant

0:44.8

balloons. Each balloon arrives folded up flat in its own small rolling cart. It gets unpacked,

0:52.2

unfolded, laid out on the pavement, and then comes the helium.

0:56.4

There's a truck nearby with big helium canisters stacked horizontally on a rack.

1:01.3

Up close, the balloons are really big.

1:05.0

You see this as soon as they start drinking up some helium and puff up to full size.

1:10.4

But tonight is Wednesday, the night before the parade, inflation night, they call it.

1:16.1

So the balloons aren't allowed to rise to parade height.

1:20.3

Each one has a net thrown across the top and the net is held down by sandbags.

1:24.5

If you happen to be passing by on foot, this can provide an unusual

1:28.9

view of your favorite balloon character, a bulging eyeball, a massive derrier, some very chubby

1:36.5

fingers. Many thousands of people come see the balloons on inflation night. It is an unusual

1:44.1

and joyful scene for the visitors and the

1:46.9

locals. For many people, myself included, it is the best New York night of the year. A lot of people

1:53.9

who live on these blocks throw inflation parties up in their apartments. And when you look

1:59.1

straight down out of your window,

...

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