IOC posts $7.6 billion in revenue over the expanded Olympic cycle

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.”