In India we get it for free on the national network called DD or doordarshan. for free. no money. why is that? while i did not watch the olympics so I cannot comment on how the programming is but we dont have to go to lengths to watch the sports. some of the paid channels also broadcast the games but i doubt anybody watches them. I never really checked how to watch them on the internet, but the speed in this part of the world or probably just my place is very shitty so i dont think it would work well in any case. 
You should probably check their numbers to analyse if that works, although the context is changed in this case. :)