(ATR) IOC president Thomas Bach deemed it a "historical step forward for the IOC and Olympic movement" as a unanimous show of hands affirmed, arguably the most anticipated of the 40 Agenda 2020 recommendations – launching an Olympic TV channel.
Bach, who chaired the working group for the proposal, called the new channel "crucial" for the promotion of Olympic athletes and values between editions of the Games.
Olympic Broadcast Services (OBS) CEO Yiannis Exarchos provided further details and insight into the new venture.
"It will be focused on news, events coverage [and] themed programming as well as education," Exarchos said, addressing the IOC members in Monte Carlo on Monday afternoon. "It will be a platform that will make being part of the Olympic movement a more personal experience tailoring content and recommendations to users’ habits and preferences."
"We want the Olympic Channel to be the ultimate content and communicator for the Olympics; thrilling, emotional, inspiring and insightful."
Plans for content, in addition to archive footage and official films, also include regional, educational and youth-oriented programming, "innovative" coverage of IF events, IOC sessions and city bid showcases. Coverage of the lighting of the Olympic flame and torch relays could also be included.
Exarchos, who has led OBS since January 1, 2013, discussed the channel’s proposed target audience.
"The Olympic channel will be a major way of engaging youth and hardcore fans in the Olympic movement," he said. "The Olympic channel can become the always-on multimedia program where our fans can experience and stay involved in the power of what sports can do."
Regarding specific content during the Olympic Games, as questioned by Prince Albert II during the session, Exarchos suggested that there could be an opportunity for rights-holding broadcasters to use the channel as an added platform.
Exarchos said the initiative will evolve into a network of channels accessible on desktop, tablet, mobile and traditional television.
"With this network, the IOC and its partners can communicate, connect and engage with the worldwide Olympic community and its fans," Exarchos said.
"It will give you access to the pure excitement of engaging amazing content that goes beyond sport as entertainment that gets you closer to the transformational and inspirational part of the Olympic Games and Olympism," Exarchos highlighted about the channel.
Ser Miang Ng of Singapore, chairman of the IOC finance commission, said the channel will require a "substantial but necessary investment" and seven to 10 years will be necessary for the project to break-even.
Ng advised that based upon the results of a visibility study, start-up costs were set at approximately 446 million euros, plus a 10 percent cushion, totaling 490 million euros.
The finance director informed that initially that costs will be shared by the IOC, NOCs and IFs with each party investing 72 million euros. The IOC will contribute an additional 103 million euros, with 133 million euros expected from incremental sales over seven years and 38 million euros coming from the Olympic movement fund.
Bach said that all cost estimates were conservative.
"It’s really a conservative approach that they’ve taken in drafting this financial plan," he said, suggesting "these figures are more than achievable."
IOC members at the 127th Extraordinary Session expressed strong support and enthusiasm for the new venture, notably Association of National Olympic Committees president Sheikh Ahmad Al Fahad Al Sabah.
"At the ANOC meeting in Bangkok, all the 203 NOCs gave their unanimous support for this proposal – they believe it will provide value," Sheikh Ahmad said referring to the recent general assembly.
Exarchos added: "We see the NOCs as local partners & I think the channel in the future will very much encourage this partnership. We can use the channel as a testing ground for new things."
United States Olympic Committee president Larry Probst said the channel is an "excellent concept" and "the sooner that we can launch this, the better."
It was revealed was that the new entity will be headquartered in Madrid, Spain, also the home of OBS.
"With OBS, Madrid is a huge logistical hub which is important for our operations and today it is not one of the most costly places to operate compared to other places," Exarchos responded to multiple IOC member inquiries of "Why Spain?"
OBS will be divided into two parts: one for the new channel and the second continuing to facilitate the Olympic host broadcast. More than 100 jobs are expected to be created.
Exarchos noted the channel "will be a truly collaborative effort [among] the Olympic family," but admitted that the endeavor be a "a challenge of Olympic proportions."
"We truly believe that this endeavor will position our Olympic brand for our constant growth as we continue to revolutionize the Games during the early part of this century.
Bach concluded, "This is a great step forward and I wish all those involved in making it happen really good luck," as the IOC membership gathered in the Grimaldi Forum Salle Ravel erupted into rapturous applause.
Written by Brian Pinelli
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