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I think 20% is high. Anyway, they definitely focus on a few events in a few sports (2016 Olympics had 28 sports with a total of 306 events). In 2016, a couple of sports had less than 1 hour of TV time in the US market.
I get the feeling this will turn out like the NCAA conference channels - Pac12, SEC, B1G - they all stated their channels would feature all sports and wouldn't just be for football & basketball...didn't take long for that scheduling to fall apart & football and bball began the focus with shows about coaches, teams, airing games from the 1980s. They do show other sports but they've pushed most of them over to their websites, which surprise, surprise isn't covered cable/satellite packages. So, on the B1G channel you get one hockey game & one wrestling dual meet a week while getting to watch shows about places to eat in B1G towns every other night.
Some interesting stats there. I do get that some sports are inherently more TV-friendly than others but it does seem like the Olympics would spread their coverage around a bit more.
Here's an interesting excerpt from the article in the OP:
Bell said the priority of the programming will be live sports—look for prelims of big sports to air here and lesser-known or emerging Olympic sport championships such as cheerleading. The second emphasis will be original programming such as documentaries. The third emphasis will be archival footage.
I do hope they make a point to shine more of a spotlight in the lesser known sports that often get overlooked within standard Olympic coverage. Considering their need to fill airtime 24/7 maybe that will happen.
I did read that they've brought on Frank Marshall (producer of Raiders of The Lost Ark) to oversee a series of documentaries that are supposed to be in the vein of ESPN's 30 for 30 series. That's something I'll definitely be interested in.