After FIFA World Cup, IPL, Viacom18 bags 2024 Olympics broadcast rights
The International Olympic Committee (IOC) on Wednesday (December 21) announced that Viacom18 Media Private Limited (Viacom18) has secured the exclusive media rights to broadcast the Olympic Games Paris 2024, plus non-exclusive rights to the Winter Youth Olympic Games Gangwon 2024, in Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
Through the agreement, Viacom18 will provide multi-platform coverage of the Games, and ensure free-to-air television coverage within the region, IOC said in a media release.
Viacom18 was the broadcast rights holder in India for the FIFA World Cup 2022 which concluded in Qatar on Sunday (December 18). Earlier this year, it won the digital rights for the Indian Premier League (IPL) for five years (2023-27).
“Fans across India and the Subcontinent will be able to witness the magic of the Olympic Games through this partnership with Viacom18,” said IOC President Thomas Bach.
“As a dynamic sports and media market, this is an important strategic region for Olympic broadcasting, and this new media rights agreement will help us inspire fans and young people across these countries to engage with Olympic sports and the Olympic values,” he added.
“The Olympic Movement is getting stronger in India, buoyed by tremendous medal-winning performances by Indian athletes and their inspiring stories, a growing sporting culture and an exponentially increased access to top-level content for millions of Indian sporting fans on their devices,” said Viacom18 Sports CEO Anil Jayaraj.
“We are delighted that we can present live Olympics content to each and every Indian through our multiple platforms, and are proud to showcase the ultimate pursuit of sporting excellence all athletes embark upon to achieve the peak of sporting glory at Paris 2024,” Jayaraj added.
In a statement, IOC said, “The IOC works with media companies around the world to ensure that as many people as possible are able to experience the magic of the Olympic Games. The Olympic media partnerships also contribute valuable revenue that ensures the long-term financial security of the Olympic Movement.”
“The IOC retains just 10 per cent of these revenues, with the rest being distributed to support the staging of the Olympic Games, promote the worldwide development of sport and the Olympic Movement, and assist with the implementation of Olympic Agenda 2020 and Olympic Agenda 2020+5,” it added.