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    The 33rd summer Olympics is crawling with cameras transmitting thousands of hours of coverage to an audience of more than 3 billion. Getty Images

    The Economist

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    The first television broadcast of an Olympic Games was in 1936, when around 160,000 people within transmitting range of the stadium in Berlin were able to tune in. The action was shot on three cameras, only one of which could capture live footage – and only when the sun was out. At the next summer games, in London in 1948, the BBC suggested that perhaps it should pay the organisers for the right to broadcast the event, and offered 1000 guineas (about $60,000 at today’s prices). The Olympic committee sportingly said there was no need.

    Today, things are a little different. The 33rd Summer Olympics, which began in Paris on July 26, is crawling with cameras transmitting thousands of hours of coverage to an audience of more than 3 billion – almost half the world’s population. The organisers will charge media companies some $US3.3 billion ($5 billion) for the right to broadcast the action, contributing the biggest single part of the games’ income and making the event perhaps the most valuable fortnight of entertainment in history.

    The Economist

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