Olympics broadcasting outlook as clear as Rio's diving pool

Rio de Janeiro

WHEN the No 1 TV station of sports-mad Australia revealed its Olympics broadcast would wipe US$50 million from annual profits, it was more than a warning for shareholders - it was a sign that the business model of the Games was being shaken up.

It may not be quite as murky as the diving pool earlier in Rio, but the outlook for Olympics broadcasters has muddied, with declining viewer numbers for the 2016 Games likely to put pressure on television advertising rates for future events.

"Instagram, Snapchat, YouTube, Facebook are all sucking the bejesus out of the market," said Steve Allen, …