Vietnam to Receive $15mn for 2023 Asian Games Telecast Rights

On Monday, it was announced that a representative of a TV network offered a broadcasting package for the rescheduled 2022 Asian Games, set to take place in September this year, in Vietnam for up to US$15 million.

Administrator

19 August, 2023

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Television networks and sports rights enterprises in Vietnam were surprised by the price quoted for the broadcasting rights of the 2022 Asian Games. Negotiations are currently underway, but no entity in Vietnam has secured these rights yet.

Originally scheduled for 2022, the 19th edition of the Asian Games was postponed to 2023 due to the COVID-19 pandemic. The Games will now be held in Hangzhou, China from September 23 to October 8, featuring 40 sports, 61 disciplines, and 483 events. A total of 45 countries and territories are expected to participate.

Vietnam’s sports sector plans to send over 400 members, including more than 300 athletes, to the event, with the goal of winning at least three gold medals. China, as the host, has designated China Media Group (CMG) as the official broadcasting station and distributor of the telecast rights.

While Hong Kong and India have secured the broadcasting rights for the Games, the financial details of these acquisitions have not been disclosed to the media. Experts had predicted a high price for the telecast rights, considering the upward trend in recent years.

In the past, the cost of television rights for the Asian Games varied. In 2002 and 2006, the rights were sold in Vietnam for a symbolic $10,000. By 2010, the price had increased to $50,000, and in 2014 it was available at $400,000 for the exclusive version and $200,000 for a non-exclusive option. In 2018, the rights for the 18th Asian Games in Indonesia were offered for up to $3 million for the exclusive package.

However, a copyright-focused enterprise in Vietnam stated that they see no need to acquire the telecast rights for the 19th Games due to the excessively high pricing proposed by partners. They believe it would be ineffective for their business, especially considering the relatively poor prospects for Vietnamese sports at the event.

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