News

Seven confirms rights to broadcast next three Olympics across all platforms

sevenSeven has confirmed it has bought the rights to broadcast the next three Olympics across free-to-air, subscription TV, digital platforms and on radio.

The agreement, which was rumoured last month, will see the network cover the Rio Games in 2016, the Winter Olympics in Pyeongchang in 2018 and the Games in Tokyo in 2020. It also includes highlights coverage of the summer youth Olympics which begins in Nanjing later this month.

Under the deal, Seven also has options to extend the rights to broadcast the Winter Olympics in 2022 and the Games in 2024.

Although no price was disclosed, it is believed to be in the region of $200 million, and Seven West Media chief executive Tim  Worner said its monetization of the deal will start immediately.

“The Olympic Games deliver the biggest audiences and the biggest marketing and advertising partnerships,” he said. “The marketing of those partnership 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 (HbbTV) 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. ”

Should Seven extend the rights to the 2022 and 2024 Games it will become the longest agreement in Australian Olympic history. Seven is believed to have been the only network to put in a formal bid for the rights.

Seven West Media chairman Kerry Stokes added: “The Olympic Games has been a key part of Seven’s history and development. I am extraordinarily proud of our long partnership with the IOC and the Olympic movement, and look forward to our partnership with the Olympic Games as we define and build our media presence over the coming decade.”

Last month media commentators told Mumbrella a $200m price tag, $50m less than the IOC’s original asking price, for the rights represented “good value” for Seven, with the winter and Tokyo games both on more friendly timezones for Australian audiences.

 

ADVERTISEMENT

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing