Seven West Media will broadcast the Beijing Winter Olympics Games in 2022 after renegotiating its current deal with the International Olympics Committee.
The Kerry-Stokes controlled television and publishing company was unable to broadcast the Tokyo 2020 Olympics Games after it was postponed due to the coronavirus pandemic. Seven was in talks with the IOC about how to make up for the delay because it did not receive a refund from the committee.
At the company’s annual television “upfronts” for advertisers, Seven said it would be the exclusive broadcaster of the Beijing Winter Olympics in 2022 – an extension on a deal signed in 2014. Chief executive James Warburton declined to comment on whether he had paid extra to acquire the rights or if it was free to make up for the postponement of this year’s games.
“I won’t get into the detail of what happened but it’s all part of negotiation with the delay with the IOC,” Mr Warburton said. “They’ve been great partners, and we’ve been able to come to an agreement, which we’re both very satisfied with.”
The Australian Olympic Committee president John Coates said the 2018 games coverage by Seven had set the standard for winter sport.
Seven secured the rights to three Olympic Games in 2014 – Rio De Janeiro Olympics in 2016, the Tokyo Olympics and the winter games in PyeongChang in 2018. The deal was reported to be worth $200 million at the time. Seven has a strong association with the Olympics that dates back to the 1990s, and periodically before that dating back to 1956.
Before this year’s games were postponed, Seven booked more than $90 million in revenue for the event and predicted it would have a 70 per cent share of television audience during the two week period due to the Tokyo time zone.
The Olympics Games is typically a loss-making event for a broadcaster, due to the large amount of costs relating to the deal, production and advertising revenue. Broadcasters usually pay for large one-off sporting events such as the Olympics because they can be used to cross-promote other television programs.
Seven has successfully renegotiated two major broadcast deals this year in the wake of the pandemic. In addition to a new deal with the IOC, Seven renegotiated the price of its broadcast rights to the AFL. It is currently in a stoush with Cricket Australia about a large reduction in rights given the uncertainty of matches this summer. Other sports codes, such as the NRL, have also renegotiated their arrangements with broadcasters.
Australia is still expected to attend the winter games despite calls by South Australia Senator Rex Patrick for the games to be boycotted. Mr Coates has since delivered a 24-page submission to the committee saying why the AOC does not support Senator Patrick’s call for a boycott.
Source: Thanks smh.com