The Rio 2016 Bid Committee today welcomed the announcement by the International Olympic Committee (IOC) that the broadcast rights for the 2014 and 2016 Games have been awarded to a consortium of three prominent media organizations in Brazil led by TV Globo. This unprecedented deal will generate a dramatic increase in coverage of the Olympic Games in one of the fastest growing markets in the world as well as a historic increase in revenues for the Olympic Movement.

The agreement, valued at over US$210 million [US$170 million rights fee and a further US$40 million minimum promotional media package commitment], establishes a new benchmark in rights valuation and confirms the robust and diverse nature of the Brazilian economy while also making Brazil the third largest broadcast market for the IOC.

Rio 2016 President Carlos Nuzman said: “The Brazilian Olympic Committee and the 2016 Bid Committee are very excited by this announcement and its significance for Brazil and South America. It demonstrates the strength of the Brazilian market today as well as our interest, passion and commitment to the Olympic Games.

"With more than 190 million people in Brazil, we are determined to ensure the continued growth of sport in our country and the role we can play in supporting the Movement across the continent and globally. We believe that providing access to the best possible Olympic broadcast experience will contribute to this objective. At this moment, I would like to congratulate TV Globo, Bandeirantes and Rede Record for their commitment to sport and their confidence in the Brazilian and International Olympic Movements. This historic deal is certainly a tremendous boost to the Rio 2016 Bid".

The IOC tendered the broadest media rights package ever offered to the Brazilian market combining broadcast – both free and pay – broadband, internet and mobile. The combination of offers from Globo, who won the main tender, and Bandeirantes and Record led to a 12-fold increase in rights fees for the Brazilian market since 2008 – a validation of the strength of the Brazilian advertising and sponsorship market. In addition, the proposals from the broadcasters will mean a quantum jump in coverage and broadcast hours for the Olympic Movement in Brazil, a testament to the widespread enthusiasm felt across the nation for the Games.