[MUSIC]. [BLANK_AUDIO]. Hello. We would like to interpret the Olympic Games relationship with the media and the audiences as a system. A system in which all the different elements are interrelated and some of them condition and influence others. In other words, we can not interpret the Olympic Games media system in an isolated way. We will show you a diagram that reflects the different actors and the relationship between them. The main actors are: The International Olympic Committee, the TV rights holders, the different international televisions who have bought the rights to broadcast the Olympics. The TOP sponsors, the audiences, the people who watch, who follow the Olympics through television and other media. The rest of the media, traditional media and social media which do not have the rights to broadcast the Olympics. As we have told you, the IOC, National Olympic Committee, is the owner of the Olympic Games. The Games are mainly funded through two main sources: The selling of the TV rights for broadcasting the Olympics and the TOP sponsors and National Sponsor Programs. We cannot understand the way of selling the Olympics Games without the interaction between the television rights and exclusivity for every territory and the sponsorship program. The TOP Sponsors Program achieves a great economic value thanks to the globalization of the Olympics that televisions produce. We cannot understand the success of the TOP Sponsors Programs without the ubiquity of the Olympics and its brand, which has been achieved thanks to the great capacity of the dissemination that television has shown. In other words, for the TOP Sponsors it makes sense to invest a great quantity, a great amount of money in the Olympics because they are followed by billions of people around the world. It is that capacity of television of shaping and constructing a global reality as the Games that makes it profitable to be a TOP Sponsor. But the International Olympic Committee, which receives the money from the TOP Sponsors and the TV right holders, shares the 90% of that money with the other members of the Olympic Family: The Organizing Committee of the Olympic Games, the International Federations and the National Olympic Committees. But we will come back to the media. Why and overall how television are profitable for the television operators that pay a great quantity, a great amount of money for the television rights? The great majority, more than 90% of the incomes of the TV right holders come from advertising. Which is the economic logic of the free-to-air broadcasting? This kind of television offers for free the contents of the Olympics live and recorded. In exchange, the spectators sell their attention to the television programs but also to the advertisements, which help to fund the free-to-air television. Right now, only a very little part of the incomes of the broadcasters come from subscription, from pay television or other pay television formulas as premium channels, subscription television or pay per view. Finally, if the rest of the media do not fund the Olympics, which is their role in this system? The broadcasters that do not own their rights for broadcasting the Olympics have the right to deliver a television highlight every day of the most important moments of the competition. They are also able to inform about other issues of the Olympics that are not the mere competition and ceremonies. On the other hand, radio and newspapers offer information about the Olympics without the need of paying for the television rights. The most important traditional media, newspapers and radio stations in every country, have a reserved place at the International Media Center. Which is the role of those media who are not owners of the television rights of the Olympic Games, and therefore don't have the capacity to get great audiences thanks to the broadcasting of the Olympics? They reinforce the image of the Olympics in the society. They are redundant media in a positive way, as they contribute to construct the ubiquity presence of the Olympics during the Games. At the same time, that social media role is exactly the same, they are not able to shape an international event, but they are complementary media of the traditional media, mainly television, which have the capacity of the shaping and constructing the reality of the Olympic Games. [BLANK_AUDIO]
