IOC grants Japan broadcast rights for $1 billion through 2024

AP, Staff Report

The IOC has awarded the Japanese broadcast rights for four Olympics through 2024 in a deal worth ¥110 billion ($1 billion).

A consortium including NHK and the Japan Commercial Broadcasters Association secured the rights Thursday to the 2018 Winter Games in Pyeongchang, South Korea, and the 2020 Summer Olympics in Tokyo, as well the 2022 Winter Games and 2024 Summer Olympics, whose host cities have yet to be chosen.

The deal covers broadcast rights across all media platforms, including free television, subscription TV, Internet and mobile.

“We are delighted that we will continue to work with our broadcast partner, the Japan Consortium, until at least 2024,” IOC president Thomas Bach said in a statement released to the media. “They have a proven track record in broadcasting the Games to the widest possible audience, which is the cornerstone of the IOC’s broadcast philosophy. The IOC redistributes over 90 percent 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 organizers of the Games, including Tokyo 2020, and ultimately the athletes themselves.”

The $1 billion rights fee represents a 61 percent increase from the previous eight-year period.

The Japanese consortium had signed a deal in 2012 for the rights to the 2014 Winter Games in Sochi and 2016 Olympics in Rio de Janeiro.

“We are pleased to announce that we, as the Japan Consortium, have acquired the media rights for four Olympic Games, including Tokyo 2020,” JBA president Hiroshi Inoue said. “We are convinced that the Japan Consortium, composed of the public broadcaster NHK and commercial broadcasters, will serve as the best system to convey the Olympic Games to the Japanese audience to the maximum extent. In particular, as for the 2020 Olympic Games held in our local city of Tokyo, coverage of the Games will be on an even larger scale compared to past Games. We will now set out for thorough preparation, taking all possible measures for the Games.

“The Japan Consortium has long worked with the IOC to spread the philosophy of Olympism — ‘to place sport at the service of the harmonious development of humankind, with a view to promoting a peaceful society concerned with the preservation of human dignity’. Now, with this long-term agreement, we have built a stable relationship with the IOC, which will enable us to convey the brilliance of Olympism more widely, deeply and constantly.”