IOC awards TV rights for North and South Korea to SBS
The International Olympic Committee (IOC) today announced a significant four-Games agreement, with the awarding of Olympic broadcast rights in Korea to SBS, the privately-owned terrestrial commercial broadcaster in South Korea. SBS will have all rights on any audiovisual medium in the territory.
The agreement, valued at USD 33 million for Vancouver 2010 and London 2012, and USD 39.5 million for the 2014 and 2016 Games*, includes for the first time Olympic coverage in both the Republic of Korea and the Democratic People’s Republic of Korea. It also shows a significant increase of 109% from the current broadcast rights agreement (2002 – 2008) with the Korean Pool which runs until the Olympic Games in Beijing.
In line with the IOC’s policy to ensure maximum coverage and exposure for the Olympic Games broadcast, the agreement ensures that 250 hours of the Olympic Games and 150 hours of the Olympic Winter Games are broadcast on Korean free-to-air channels, along with an “Olympic Games’ Daily Highlights” programme, which will be shown in prime time.
Speaking on the agreement, IOC President Jacques Rogge said “This significant agreement is an excellent outcome for the IOC and for the people of Korea, who are avid Olympic Games fans. This deal ensures a broader reach and greater coverage with a dedicated and enthusiastic new broadcast partner. This deal will mark the end of our relationship with the Korea Pool. We look forward to their collaboration on the Beijing Games and thank them for their partnership in previous Games”.
Commenting on the deal, IOC Executive Board member Richard Carrión, who led the TV rights negotiations in Korea, said: “Korea is arguably the world’s most advanced media market in terms of broadband penetration and early adoption of new technologies. This new contract with SBS will allow the deployment of a full spectrum of new media rights as well as extending the coverage of Olympic Games into North Korea. The financial aspects are also favourable for the Olympic Movement. We are very pleased with this outcome.”
* to be awarded respectively in 2007 in Guatemala City and 2009 in Copenhagen