Comcast extends its Olympics rights agreement through 2036 with a $3 billion deal
Comcast’s last agreement with the IOC came in 2014 and covered 2022 through 2032.
It seems like Comcast, which already held the US broadcast rights to the Olympics through 2032, took a look at the direction the streaming sports rights market is headed (up) and decided to lock in a few more decathalons.
On Thursday, the NBC and Peacock parent announced it has extended its media deal with the International Olympic Committee for two additional Olympic games: the 2034 Salt Lake City Winter Olympics and the 2036 Summer Olympics (host city TBD).
The $3 billion extension is less than the $7.75 billion deal signed more than a decade ago, but since it covers fewer years, it marks a roughly $200 million bump per Olympics.
Last year’s Paris Olympics were huge for Comcast, spiking Peacock’s monthly viewership total by 39%, according to Nielsen data. The games, which were also significantly cheaper to host than recent previous games, set an ad revenue record for NBC. The media company said that the number of advertisers it booked more than doubled the combined total of the 2020 Tokyo and 2016 Rio Summer Olympics.
Some corporate iteration of NBC has owned US Olympics coverage since 1992, making it one of the longest-running TV rights relationships left in entertainment. Similar-length deals haven’t held up elsewhere: in July, Warner Bros. Discovery lost out in its bid to retain NBA rights, ending a more than three-decade relationship. Last month, it was also announced that the MLB’s 35-year deal with Disney’s ESPN would end after this season.
