NBC and IOC Extend Partnership in $3 Billion Deal Securing Olympic Broadcasting Rights Through 2036
NBCUniversal and the International Olympic Committee (IOC) have solidified their long-standing alliance with a monumental $3 billion agreement, ensuring that NBC remains the exclusive U.S. broadcaster of the Olympic Games through at least the 2036 Summer Olympics. The deal, approved by the IOC’s executive board, signifies a significant commitment to the future of Olympic broadcasting and underscores the enduring value of the Games in the American media landscape.
The agreement grants NBCUniversal comprehensive broadcasting rights across all platforms, including its streaming service, Peacock. This move reflects the evolving media consumption habits of viewers and the increasing importance of streaming platforms in delivering live events and supplementary content. Peacock has played an increasingly prominent role in NBC’s Olympic programming, offering viewers a wider range of coverage, behind-the-scenes access, and interactive experiences.
"There is no event like the Olympics," said Comcast chairman and chief executive officer Brian Roberts. "Its power to bring joy, and the unifying spirit it embodies, are truly unique." Roberts emphasized the transformative nature of technology and how this partnership anticipates and embraces the accelerating pace of change in the media landscape. He highlighted the groundbreaking nature of the long-term partnership between Comcast NBCUniversal and the International Olympic Committee.
NBC’s association with the Olympics dates back to 1988, when it first began broadcasting the Summer Games. In 2002, the network added the Winter Games to its portfolio, solidifying its position as the premier Olympic broadcaster in the United States. Comcast, NBCUniversal’s parent company, is also a major sponsor of Team USA, further cementing its commitment to the Olympic movement.
The $3 billion deal builds upon NBC’s previous rights agreement with the IOC, signed in 2014, which was valued at $7.75 billion and covered the period through 2032. This new agreement extends the partnership by four years, guaranteeing NBC’s exclusive broadcasting rights through the 2036 Summer Games. The significant investment reflects NBCUniversal’s belief in the enduring popularity and cultural significance of the Olympics, despite the challenges facing the traditional media landscape.
The timing of the deal is particularly noteworthy, as the U.S. is set to host two of the next five Olympic Games: the 2028 Summer Games in Los Angeles and the 2034 Winter Games in Salt Lake City. These home Games are expected to generate significant interest and viewership, providing NBC with a unique opportunity to capitalize on its investment.
The announcement also follows a strong performance by NBC during the 2024 Summer Olympics in Paris. The network reported an average of 67 million total viewers per day and 23.5 billion minutes of streaming on Peacock. NBC experimented with new approaches to coverage, including a real-time highlights show and content featuring non-athlete influencers, demonstrating its commitment to innovation and engaging with younger audiences.
Outgoing IOC president Thomas Bach acknowledged the evolving media landscape and emphasized the importance of partnering with a leading media and technology company like NBCUniversal. "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," Bach said.
The expanded partnership will likely lead to even more comprehensive and innovative coverage of the Olympics, with a greater emphasis on streaming and digital platforms. Peacock is expected to play an increasingly central role in NBC’s Olympic programming, offering viewers a wider range of live events, on-demand content, and interactive features.
NBCUniversal’s investment in Olympic coverage reflects its commitment to providing viewers with high-quality sports programming and its belief in the enduring appeal of the Games. The partnership between NBC and the IOC has been a successful one for many years, and this new agreement ensures that the relationship will continue for many years to come. It underscores the Olympics as a premium property in media, able to draw impressive numbers across all platforms. The details regarding specific plans for content and distribution related to Peacock will likely emerge over the next months and years as the games in LA and Salt Lake City approach.
The new deal is a significant win for both NBCUniversal and the IOC. It provides NBC with a valuable asset that will help it attract viewers and advertisers, and it ensures that the IOC will continue to receive significant revenue from the U.S. market. It also guarantees a continued presence of the Olympics in the American consciousness, fostering national pride and excitement. It is also anticipated that this will encourage more youth participation in sports and help reinforce the Olympic values across the country. The commitment of NBC to innovation in broadcasting should also enhance the viewing experience over time.
With the future looking bright, and a firm commitment to the Olympics, it looks like NBC and Peacock will continue to be the primary homes for Olympic coverage in the US for years to come.
