IOC expects $4 bn from broadcast rights between 2014-16

MUMBAI: The International Olympic Committee (IOC) expects revenue from broadcast rights to top $4 billion between 2014-16, IOC president Jacques Rogge said.

?For the period 2014-16, we already have $3.6 billion and it should reach and exceed $4 billion. TV rights totalled $2.2 billion for the period 2002-4,? Rogge told an IOC session days before the start of the London Olympics.

The world Olympic governing body earned $3.9 billion between 2010-2012.

IOC has already generated $2.6 billion in broadcast rights revenues for the 2018-2020 period.

A large chunk of IOC?s broadcast revenue comes from US, where it had sold the rights to NBC for $4.38 billion till 2020.

?Since 31 December, 2001 our reserves have grown from 105 million to 558 million, an increase of 453 million. This financial solidity is due to success of marketing and broadcast rights,? said Rogge.

Apart from broadcast rights, IOC?s sponsorship revenue has also seen growth, with revenue from sponsorship expected to generate $1 billion from 2013-2016 top sponsorship programme.

IOC already has seven sponsors on board for the 2017-2020 programme which has brought in $722 million. The same programme had been worth $663 million for the period 2001-4.