Comcast Corp. and NBCUniversal have secured U.S. rights to broadcast the Olympic Games through 2036 with a $3-billion arrangement.
The new deal, which kicks in this year, solidifies Comcast’s long-standing partnership with the International Olympic Committee and gives the Philadelphia media giant expanded digital rights for its broadcast and streaming platforms, including NBC, Telemundo and Peacock.
With the extension announced Thursday, NBCUniversal locked in rights to cover the Winter Olympics in Salt Lake City in 2034 and the Summer Games two years later at a venue yet to be determined.
The deal is key to the IOC, because the Lausanne, Switzerland-based organization relies heavily on revenue from Comcast to maintain the financial security it needs to stage the Olympics and Paralympic Games.
Comcast wanted to cement its ties to the Olympics as live sports become increasingly crucial to broadcasters’ survival in the streaming age. The company also was eager to pin down expanded streaming rights for the next three Olympic Games, which were part of the previous pact that was set to expire in 2032. Comcast had previously committed to pay the IOC $12 billion for that sequence of Games.
The deal comes seven months after the successful Paris Olympics.
NBCUniversal’s coverage from Paris reached an average 67 million total viewers per day across its broadcast, cable and streaming platforms. Fans streamed more than 23 billion minutes of NBCUniversal’s Paris 2024 coverage, led by Peacock, a huge increase over the streaming views for the disappointing Tokyo Games, which were hampered by the COVID-19 pandemic.
“This agreement with Comcast is groundbreaking because it goes far beyond the traditional media rights agreement which we have had for many years with our valued partner,” IOC President Thomas Bach said in a statement.
NBC has presented 19 Olympic Games, beginning with Tokyo in 1964. It has aired the last 13 editions, more than any other U.S. media company.
Keeping the Olympics on NBC has long been a priority for Comcast Chairman and Chief Executive Brian Roberts. Comcast also provides business products to the IOC as part of its role as an Olympics ring-holder.
“It is our honour to continue to bring the full power of our company’s expertise in creating and distributing content that connects with Americans, as well as to begin to provide even more innovative technological support and solutions to the IOC,” Roberts said in the statement.
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