The International Olympic Committee (IOC) reported its revenues for the 2017-21 Olympic cycle were around $7 billion. The delay of the Tokyo 2020 Olympics, due to COVID-19, helped boost the organization’s revenue over the last calendar year.
According to the report, the IOC had a net income of $843.8 million during the 12-month period ending in December 2020. However, it lost $55 million due to the delay in the Tokyo 2020 Olympics.
“Many doubted it would be possible for the [Tokyo 2020 Olympics] to take place at all. But, looking back now, we can appreciate what an overwhelming success they were,” said IOC president Thomas Bach.
The sale of broadcast rights, which was worth $3.1 billion, was the main contributor to the organization’s revenue in 2021. Income generated from the Americas broadcast rights was $1.6 billion; $842.5 million in Asia; $606m in Europe; $77.6m in Oceania; and $17.4m in Africa.
The report stated the latest Olympic broadcast cycle saw rights make up 61 percent of the organization’s total revenue. The IOC’s sponsorship program, The Olympic Partner, accounted for 30 percent ($835.6m). Other rights accounted for five percent; and other revenue accounted for four percent.
The IOC’s European broadcast rights, which were issued in March, are currently up for bid on the open market. The first round of bids were due for submission by April 25. Discovery currently holds the broadcast rights and will air the games across Europe, excluding Russia, through the Paris 2024 Games.
IOC expenditures also increased during the last year. It was reported a total of $2 billion was distributed to the various Olympic groups, while $906.3 million was spent on the Olympics related costs. In 2021, a total of $540 million was given to international federations and various Olympic committees.
President Bach wrote in his address that “Of course, these were unprecedented Olympic Games and it took an equally unprecedented effort from everyone in the Olympic movement to make them happen. Having overcome the many challenges we faced, we can all be very happy about the overwhelmingly positive global response to these Games.”
Últimas Noticias
Sinner-Alcaraz, the duel that came to succeed the three phenomenons
Beyond the final result, Roland Garros left the feeling that the Italian and the Spaniard will shape the great duel that came to help us through the duel for the end of the Federer-Nadal-Djokovic era.
Table tennis: Brazil’s Bruna Costa Alexandre will be Olympic and Paralympic in Paris 2024
She is the third in her sport and the seventh athlete to achieve it in the same edition; in Santiago 2023 she was the first athlete with disabilities to compete at the Pan American level and won a medal.
Rugby 7s: the best player of 2023 would only play the medal match in Paris
Argentinian Rodrigo Isgró received a five-game suspension for an indiscipline in the circuit’s decisive clash that would exclude him until the final or the bronze match; the Federation will seek to make the appeal successful.
Rhonex Kipruto, owner of the world record for the 10000 meters on the road, was suspended for six years
The Kenyan received the maximum sanction for irregularities in his biological passport and the Court considered that he was part of a system of “deliberate and sophisticated doping” to improve his performance. He will lose his record and the bronze medal at the Doha World Cup.
Katie Ledecky spoke about doping Chinese swimmers: “It’s difficult to go to Paris knowing that we’re going to compete with some of these athletes”
The American, a seven-time Olympic champion, referred to the case of the 23 positive controls before the Tokyo Games that were announced a few weeks ago and shook the swimming world. “I think our faith in some of the systems is at an all-time low,” he said.
