The International Olympic Committee (IOC) has awarded Seven West Media Ltd. (Seven) the Australian broadcast rights for the Games of the XXXI Olympiad in Rio de Janeiro in 2016, the XXIII Olympic Winter Games in PyeongChang in 2018, and the Games of the XXXII Olympiad in Tokyo in 2020, as well as the 2nd Summer Youth Olympic Games in Nanjing in 2014.
Media analysts are reporting that Seven has paid 200 Million for the broadcast package, a figure much lower than the IOC had been hoping for after Nine and Ten pulled out of the bidding process.
While Seven will be keen to broadcast as much content as possible on their own platforms they have also expressed a willingness to negotiate a shared rights agreement with other broadcasters such as Foxtel, Telstra and SBS to help lower costs
Seven has acquired broadcast rights on all media platforms, and has committed to once again displaying its Golden Rings winning production abilities for the benefit of the Australian public. The agreement also includes an unprecedented commitment over the course of the partnership to support the IOC’s goals. This commitment includes promoting Olympism, Olympic sports, health, education and youth sport across Seven’s media platforms, including its television network, newspapers, magazines and online media. Underlining this new partnership is an option which, if exercised, extends the rights to include the XXIV Olympic Winter Games in 2022 and the XXXIII Olympic Games in 2024.
IOC President Thomas Bach said: “Seven has a lot of experience in broadcasting major sports events, and first broadcast an Olympic Games in Melbourne in 1956. We are delighted that we will work with Seven until at least 2020. The IOC enjoys long term partnerships and this agreement is something of a homecoming between us and Seven. Seven has made a concrete commitment to help promote the Olympic Movement and the Olympic values, not only during each edition of the Games, but all year round, and this was an important consideration in our decision making. The IOC redistributes over 90 per cent of its revenues for the benefit of the wider Olympic Movement, and the funding generated by this agreement will support sport around the world, future organisers of the Games, and ultimately the athletes themselves.”
The Chairman of Seven West Media Ltd. Mr. Kerry Stokes AC said:" We are delighted to once again be entrusted with bringing the Olympic Games to all Australians. The Olympic movement and Seven have enjoyed a long and deep partnership since the Games in Melbourne. We are looking forward celebrating our five decades association with the Olympics in Rio and to taking this partnership to a new level over the coming decade."
IOC Vice-President John Coates, a member of the IOC’s TV Rights and New Media Commission, said: “I am very pleased to have finalised this long-term agreement, and our work with Seven begins right away planning for this summer’s 2nd Youth Olympic Games. We’ve had a long relationship with Seven, which last covered the Beijing 2008 Olympic Games, and we are happy to welcome them back to the Olympic team. Seven will work closely with the IOC to make this a successful partnership, not only in terms of great broadcast coverage of the Games, but also support for the promotion of Olympic sports and the Olympic values.”
Tim Worner, CEO of Seven West Media, added: “We accept this honour on behalf of our audiences. The Olympic Games are a commitment to excellence that invigorates us. In many ways, our connection with the Games has defined our business and our connections with our audiences. We are ready to begin the next step on our journey with the Olympic movement and take the responsibility to provide the Games to all Australians across all forms of delivery platforms.
“The Olympic Games is the greatest show on earth. It will be a remarkable platform for Seven as we continue to move forward as a media company, developing new content and building new businesses which will drive our future as Australia’s leading integrated media and communications business.
“The Olympic Games deliver the biggest audiences and the biggest marketing and advertising partnerships. The marketing of those partnerships with our advertisers begins today. The monetization of our rights begins today.
“We are expanding our significant online presence and will soon unveil more plans for the further delivery of our video and publishing content across an array of delivery platforms, including the forthcoming launch of Hybrid Broadband Broadcast Television which will allow us to strengthen our broadcast television business and extend to one-on-one communications with our mass audiences.
“Everyone knows the media landscape is changing at breakneck speed and the way our coverage of these events is produced and distributed across all platforms to all Australians will be revolutionised in the lifetime of this deal.
And, if Seven is granted broadcast rights following the exercise of the option for the Games in 2022 and 2024, it will become the longest agreement in Australian Olympic history.
“We take great pride in our partnership with the Olympic Games and the key role it will play in driving home our leadership across our media platforms and our connection with our audiences. We have projects already earmarked and in development for launch on our television platform following the Olympic Games in Rio in 2016,” Mr Worner said.