International Olympic Committee posts revenues of US$7.6 billion for elongated Olympic cycle
The International Olympic Committee has declared revenues of US$7.6 billion for the 2017 to 2021 Olympic cycle with the delayed Tokyo 2020 Olympics helping to increase its revenues to US$4.2 billion for the last calendar year.
The IOC’s latest financial report reveals net income of US$843.8 million during the 12-month period to the end of December, having, in 2020, registered a $55 million loss after the Tokyo 2020 Olympics were postponed by a year.
The sale of broadcast rights accounted for US$3.1 billion of the IOC’s revenue in 2021. From this, a total of US$1.6 billion was generated in the Americas; US$842.5 million in Asia; US$606 million in Europe; US$77.6 million in Oceania and US$17.4 million in Africa.
Revenues from The Olympic Partner (TOP) sponsorship program totalled US$835.6 million while, in 2020, the sponsorship program accounted for US$532.4 million of the US$623.8 million recorded by the IOC.
The IOC also received US$39.8 million from the sale of other rights in 2021, compared with US$65.8 million in 2020, and recorded US$178.9 million in other forms of revenue; a significant increase on US$24.6 million the previous year.
The IOC said broadcast rights accounted for 61% of the total of US$7.6 billion revenues over the cycle; the TOP program accounted for 30% other rights accounted for 5%; and other revenue accounted for 4%.
IOC expenditure also increased last year. A total of US$2.1 billion was distributed to the wider Olympic movement; US$906.3 million was swallowed by Olympics-related costs; and US$194.6 million was spent on promotion costs. A total of US$540 million was distributed to international federations in 2021 with national Olympic committees receiving US$367.9 million.
The report also revealed the Committee had US$5.6 billion worth of assets at the end of last year.
Commenting on the results, IOC President Thomas Bach wrote “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.
“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.
“It is clear that the world will never again be like it was before, with far-reaching social, financial, economic and political consequences caused by the pandemic…we must prepare ourselves for this new world.”
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