IOC Reports US$7.6 Billion Revenue In Extended Cycle
The International Olympic Committee (IOC) has reported total revenue of US$7.6 billion in the 2017-2020/21 cycle, compared to the US$5.7 billion in the previous Olympiad.
The Olympiad cycle includes a Winter, Summer and Youth Olympic games, but due to the postponement of Tokyo 2020, the cycle was extended through 2021.
Broadcast rights created 61% of the total revenue, at US$4.2 billion, top marketing programmes brought in 30%, while other revenue and rights made up the last 9%.
The Americas spent the most on broadcast rights in 2021, at US$1.6 billion, Asia spent the second-most with US$850 million, with Europe in third, spending US$606 million.
IOC revenue distribution saw 90% go towards Olympic Games, promotion of the Olympic Movement, implementation of Olympic Agenda 2020 & Olympic Agenda 2020+5, with the final 10% being used for IOC activities to develop sport and operations of the organisation.
On the organisation’s strong financial position, the IOS Annual Report 2021, said: “The IOC maintained a healthy and strong financial position as at 31 December 2021.”
“This provided the IOC with the flexibility to navigate the global uncertainty caused by the pandemic and to strengthen its support to the Olympic Movement.
“Total assets stand at USD 5.6 billion.
“Current assets stand at USD 4.4 billion, while non-current assets stand at USD 1.3 billion.
“Cash and other financial assets, totalling USD 5.1 billion, represent 90% of the IOC’s total financial position.
“The IOC’s total liabilities of USD 2.2 billion represent 40% of its total financial position.
“This is more than fully covered by the IOC’s current assets, illustrating the IOC’s overall financial health and long-term sustainability.
“The IOC’s fund balance stands at USD 3.4 billion, which represents 60% of its total financial position.
“Of the total fund balance, 83% is undesignated to cover the expenditure and contributions planned during non-Games years where no Games revenue will be recognised, as well as for the Olympic Foundation as part of the IOC’s risk management strategy.
“The IOC designated fund, at 17% of the total fund balances, is designated for the financing of Olympic Solidarity’s annual programmes to secure financial assistance for the NOCs, as well as for financial assistance to the Olympic Movement through the Olympic Movement Fund,” it said.
The annual report comes after the IOC partnered Deloitte until the Brisbane 2032 Olympics, with the company using its management and consulting operations to enhance and secure the IOC’s digital ecosystem while helping the IOC meet recommendations outlined in the Olympic Agenda 2020+5 report.