Japanese Consortium Pays $1B For Broadcast Rights For Next Four Olympic Games
The IOC sold the Japanese Olympic broadcast rights through '24 "to a TV consortium on Thursday in an eight-year, four-Games deal" worth $1B, according to the AP. The deal "shows increasing Asian and Japanese financial influence in the Olympics." The agreement represents a 61% increase in rights fees from the previous eight-year period, and comes less than a week after Japanese tire manufacturer Bridgestone signed a $344M deal with the IOC "to become a global Olympic sponsor through 2024." It "also marks another success" for IOC President Thomas Bach in "ensuring the long-term financial security of the Swiss-based Olympic body." The Japan Consortium, which includes public broadcaster NHK and the Japan Commercial Broadcasters Association, secured the exclusive rights to the 2018 PyeongChang Winter Olympics and the 2020 Tokyo Summer Olympics as well the 2022 Winter Games and 2024 Summer Olympics, "whose host cities are yet to be chosen." The agreement "involves broadcast rights across all media platforms," including free TV, subscription TV, Internet and mobile (AP, 6/19).