Govt Could Keep Buying Olympics Rights: Lam Tai-fai
"); jQuery("#212 h3").html("

"); });
2021-05-12 HKT 11:03
The head of Hong Kong’s sports school has called on the government to consider purchasing the broadcasting rights to future Olympics, after officials made the “unprecedented” decision to do so for the upcoming Tokyo games.
Despite the price tag of the rights being kept confidential, the chairman of the Sports Institute, Lam Tai-fai, said on Wednesday that the money was well-spent because people would be upset and it would be "embarrassing" for Hong Kong, as an international city, not to have access to the Tokyo Olympics.
Lam told an RTHK programme that assuming the broadcasting rights cost about HK$100 million, each Hong Kong person would essentially be paying only around a dollar a day to watch the 17-day event.
When asked if the government should make the purchase regular, he said: "I don't rule out it could become a regular arrangement. But it's better to make a review first, to see if the five broadcasters would generate positive competition, if the productions are of quality or not."
However, Lam believed the TV stations will bid for the broadcasting rights again when the economy improves as that will generate more advertisement revenue.
His comments were echoed by Kenneth Fok, the vice-president of the Sports Federation and Olympic Committee of Hong Kong.
He told the same programme that a review would be needed to see what's the best way forward for sports development, saying it's important to let more people know about the city's elite athletes.
The Tokyo games will be aired on TVB, Viu TV, Open TV as well as paid channels Cable TV and Now TV – except the government's station, RTHK.
Lam, who also chairs the advisory board of RTHK, said the administration's decision shows how much it "cares" for the broadcaster.
He said the Tokyo games will kick off in just two months’ time, and RTHK would be hard-pressed for resources and manpower if it is to cover the events.
The government broadcaster will be given the highlights, or the "best bits" to air anyway, he added.
Secretary for Commerce and Economic Development Edward Yau, who oversees RTHK's operation, agreed with the arrangement.
"We are not saying that RTHK is being deprived of the right (to broadcast the games). Actually in part of the deal, RTHK will be given footage by the commercial operators so that they can also produce their own programmes without committing additional resources," Yau said.
______________________________
Last updated: 2021-05-12 HKT 14:31
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more