The explosion of social networking offers huge opportunities to the IOC, but with much of its revenues dependent on the billion-dollar deals agreed with broadcasters, the body overseeing the Games will also have to protect those long-held rights.
Fans inside a stadium will be allowed to use their smartphones to film Usain Bolt on the track or Michael Phelps in the pool, but they will not be allowed to upload it to Facebook in a ruling that may surprise many tech-savvy fans who now upload clips on a regular basis.
Anthony Edgar, head of media operations for the IOC, freely admits that he does not know what to expect in London following the explosion of social media, with some 900 million people using Facebook in 2012 compared to the 100 million who used the site just four years ago at the time of the Beijing Games.
"Yes you can't hold a camera when you're running down the 100 metre straight and do an exclusive broadcast. That's for the broadcasters," he told Reuters in an interview. "But you can certainly talk about it. You can certainly take photos of it. And you can certainly write about it.
"We're having to deal with things now that didn't exist in Beijing, with a voice that wasn't so loud in Beijing. Everyone is allowed to film who goes into a venue ... but it's for personal use only."
YOUNGER AUDIENCE
Ian Maude, an analyst in online media at the British-based Enders Analysis firm, said he thought it could pose a huge challenge to the social networks and IOC, as many fans will not know the rules.
"Everyone has a mobile phone which is also a video camera these days and they're going to want to record the moment for posterity," he said.
"I think there will be an issue with people not realising the rules but also some people could think about how much they've paid for those tickets and they may not care about the rules anyway."
A spokeswoman for Facebook said the group had a close relationship with the London organisers and would respond to any IP violations in the same way they do with other events.
Edgar said the social networks could enable its media partners to reach a younger audience who are spending less time in front of the television, while the IOC will work closely with Facebook and Twitter in cases where unofficial content hits those sites.
And the prevalence of social media is also throwing up different challengers for the London organisers.
"Um, so we've been lost on the road for 4hrs," said twice world 400 metres hurdles champion Kerron Clement via Twitter, showing how one athlete could change the perception of the Games and the reporting of the Games with just one 140 character Tweet. "Not a good first impression London.
"Athletes and officials are sleepy, hungry and need to pee. Could we get to the Olympic Village please?"
Traditional media including newspapers and TV in Britain jumped on the fact the bus driver had got lost, despite the rest of the transport system appearing to be working properly.
