National broadcaster Vietnam Television (VTV) is expected to pay approximately US$8 million for the broadcasting rights of the upcoming 2018 FIFA World Cup in Russia.
VTV finished its negotiation regarding the telecast rights for the global football tournament on Tuesday evening, an official from the state television told Tuoi Tre (Youth) newspaper.
“We will continue discussing the rest of the contract, which is about the broadcasting rights on VTV’s website and mobile app, on the coming days,” the official continued.
“It will be easier to manage and protect the copyright if the matches are broadcast on all of our platforms,” he elaborated.
The deal costs approximately $8 million for all 64 matches of the World Cup.
Switzerland-based Infront Sports & Media, a distributor of the World Cup 2018 broadcasting rights, previously asked for $15 million for the package.
However, VTV had said it would not settle for any deal costing more than $10 million.
Despite the deal, VTV now only has less than a month to look for sponsors, the representative added.
According to Nguyen Thanh Lung, deputy general director of VTV, the state television has had to make careful consideration given a continuous rise in the price of the World Cup broadcasting rights.
VTV paid $2.7 million in 2010 and up to $7 million in 2014 to be able to broadcast the football championship.
The FIFA World Cup, held every four years and contested by men’s national football teams from all parts of the world, is a much anticipated event in Vietnam, a country where football is an immensely popular sport.
In its 21st edition this year, the World Cup will be competed from June 14 to July 15 in Russia.
VTV is the only broadcaster from Vietnam joining the negotiation this year, as other channels are expected to share its broadcasting rights once a deal is inked.
Vietnam now remains the only country in Southeast Asia that has yet to obtain rights to broadcast the games from Russia.