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Comcast Inks $3B Deal to Keep Olympics Rights Through 2036
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- Comcast Inks $3B Deal to Keep Olympics Rights Through 2036
In a major deal, Comcast and the International Olympic Committee have inked a $3 billion deal that will keep NBCUniversal and Peacock as the U.S. TV and streaming home of the Olympic Games through 2036. The deal includes the 2034 Winter Olympics, which are set to be held in Salt Lake City, and the 2036 summer games, for which a host city has not yet been determined.
Comcast's previous deal for the Olympic rights was signed more than a decade ago, and was set to run through 2032. The new agreement supersedes that one and is effective immediately. It also includes "new, innovative joint strategic initiatives and projects."
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Those other elements include Comcast providing technical, video and advertising support to the IOC and the Olympic games, including support for the Olympic Broadcasting Service in venues; technology infrastructure and connectivity support; the development and support of an OBS Olympic video player; and U.S. digital advertising opportunities.
The IOC frames ad the deal as shifting Comcast from a media rights holder to a "strategic partner."
"There is no event like the Olympics. Its power to bring joy, and the unifying spirit it embodies, are truly unique," Comcast CEO Brian Roberts said in a statement. "We live in a time when technology is driving faster and more fundamental transformation than we've seen in decades. This groundbreaking, new, long-term partnership between Comcast NBCUniversal and the International Olympic Committee not only recognises this dynamic but anticipates that it will accelerate. It is our honor 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 and its stakeholders in areas that benefit athletes and the many people dedicated to organising the Olympic Games around the world."
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"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. "Thanks to their innovative approach, serving on all platforms from linear to streaming and digital, we can now take our partnership to new heights for the benefit of athletes, Olympic stakeholders, organizing committees and fans. The media landscape is evolving rapidly and, by partnering with one of the world's leading media and technology companies, we will ensure that fans in the United States are able to experience the Olympic Games like never before."
NBCU has been the exclusive U.S. TV home of the Olympics for decades and uses the games not only to drive viewership but also to propel its streaming ambitions and to serve as a major hospitality initiative for the company's ad business.
The 2024 Paris Olympics set an advertising record , drawing more than $1.25 billion in ad commitments, and enormous viewership, with an average of more than 30 million people tuning in each day.
On Peacock, Gold Zone emerged as a breakout hit , providing a new way for streaming viewers to follow the action. And the company is already preparing for 2028 , when the Olympics will return to the U.S. as Los Angeles serves as host city.
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