The International Olympic Committee's new television Channel will launch officially on Aug. 21, the last day of this year's Rio de Janeiro Games, as the organisation looks to attract a new generation of fans. The digital platform will look to maintain interest in the Games year-round, especially in the two-year period between summer and winter Olympics with original programming, live events, news and highlights. "The launch of the Olympic Channel on 21st August is the start of an exciting new journey to connect the worldwide audience with the Olympic Movement all year round," IOC President Thomas Bach said in a statement. "Fans will be able to follow sports, athletes and the stories behind the Olympic Games. The Olympic Channel will inspire us all and reach out to new generations of athletes and fans." The Olympic Channel will be available worldwide via a mobile app. Unveiled as a plan in 2014, the venture is expected to cost nearly half a billion euros for the period 2015-2021 with a prediction to break even within seven to 10 years. After the launch of the global digital product, the Olympic Channel will "foster partnerships with other Olympic stakeholders, including rights-holding broadcasters and National Olympic Committees to develop localised versions of the Olympic Channel," the IOC said. The Rio Games start on Aug. 5.