SYDNEY, AUSTRALIA: Nine Entertainment Co. (ASX:NEC) has concluded an agreement with the International Olympic Committee for the 2024 to 2032 Olympic Games and Olympic Winter Games, giving Nine exclusive rights for all audio-visual platforms, including free to air television, free streaming and all pay television rights including subscription streaming, exclusive audio rights for linear broadcast and non-exclusive rights for audio streaming.
The rights agreement includes the Olympic Games in Paris in 2024, Los Angeles in 2028 and Brisbane in 2032, the Olympic Winter Games in Milano Cortina in 2026 and the 2030 Olympic Winter Games. The cost to Nine Entertainment over the rights period will be AUD$305m in cash, with a further AUD$10m of contra to be provided.
Peter Costello, Chairman of Nine, said, “The decision to acquire these rights reflects our long term strategy to offer premium content across all Nine’s platforms. I am delighted that Nine will be showing the Olympic Games across the Nine Network, 9Now and Stan from Paris 2024 through to the culmination in Brisbane in 2032.”
Mike Sneesby, CEO of Nine, said “This partnership with the IOC is an important part of Nine’s strategy, as we continue to define Australian broadcast and streaming television. We’re delighted to be bringing the Olympic Games to Australian audiences, whenever and however they choose, from Paris 2024 to Brisbane in 2032.
These rights complement our recently renewed partnerships with the NRL and Tennis Australia at a time when live sport continues to demonstrate its ability to drive strong growth in streaming audiences and strength in FTA TV consumption. Importantly, this deal enables Nine to make the Olympic Games accessible to all of Australia, across more platforms than ever before.
For our audiences, advertisers and teams across Australia, today’s announcement brings the Olympic Games home to Nine Entertainment, and directly reflects our purpose – Australia Belongs Here.”