The International Paralympic Committee’s (IPC) revenues returned to “regular levels” for the 2022 financial year after the major increase in 2021 due to the delayed Tokyo Paralympics.
After what the IPC described as an “extraordinary year” in financial terms in 2021, the organization posted revenue of €24.16 million ($25.9 million) for the year ending December 31, 2022.
This is down significantly from the €53.4 million posted in the prior year which the IPC attributed to the broadcasting of the Tokyo 2020 Paralympic Games, with the event accounting for 54% of all revenue.
When comparing the revenues from the past two years, excluding what the IPC termed “the one-off effect” of broadcasting the Tokyo games in 2021, the 2022 figure is only slightly below the previous year’s income of €24.5 million.
The IPC also stated the higher revenue from 2021 “was due to a balance sheet effect, namely the release of provisions into annual revenue that has not been repeated to the same extent in 2022.”
The €24.16 million figure was divided into two categories: organizational core and core projects (€21.08 million), and world para sports (€3.07 million).
Revenue from marketing and broadcasting, sponsorships, and fundraising came in at €12.7 million, an increase of 4% from 2021. This stream accounts for 60% of all organizational core revenues.
Income from broadcasting projects, meanwhile, was €588,567.
Total expenses for 2022 were €24.1 million, giving the non-profit a small surplus for the year of €14,897.
In its annual report, the IPC called 2022 “an unprecedented year” which included the Beijing 2022 Paralympic Winter Games, record TV coverage for said games, highest-ever digital engagement figures, and the implementation of a new governance model.
The organization revealed the Beijing 2022 cumulative viewing figures reached 2.1 billion, which was the highest ever for the Winter Paralympics. It also claims engagement in its social media channels topped 1 billion video views for the first time in 2022, while the number of followers grew by 53% to more than 6 million.
Andrew Parsons, IPC President, said: “Sporting performance and the depth of talent and competition across all sports have never been better. As a result, global TV audiences continue to grow.”
“To stage one Paralympic Games during a pandemic is monumental. However, to accomplish the safe and record-breaking delivery of two games editions within six months of each other, in the face of the most difficult conditions, is a testament to the strength of the IPC, Paralympic Movement, and para athletes everywhere.
“December 2022 brought to a close the Strategic Plan cycle 2019-2022, a period that will go down as the most challenging in the Paralympic movement’s history. Despite the unprecedented circumstances faced due to the pandemic, the IPC and Paralympic movement did not just survive but thrived.”