Comcast Extends Olympics Sports Rights Deal for $3 Billion
**Comcast Extends Olympics Sports Rights Deal for $3 Billion**
By Sahil Patel
17 hours ago
Source: The Information
Comcast and the International Olympic Committee have signed a multi-year extension for NBCUniversal to exclusively air the Olympic games in the U.S. through 2036. The new deal, which the organizations said is valued at $3 billion, covers the 2034 Winter Olympics and the 2036 Summer Olympics. The deal also supersedes Comcast's existing agreement with the IOC, which covered six Olympics from 2021 to 2032 and for which Comcast reportedly paid $7.75 billion.
The Olympics are a huge deal for Comcast, particularly as the company tries to use live sports to grow its streaming service Peacock and NBCUniversal's overall advertising business. During the third quarter of 2024, when NBCU aired the Paris Summer Olympics, NBCU generated $3.3 billion in domestic ad revenue, $1.4 billion more than the same quarter the previous year. (NBCU's annual ad revenue also improved year over year by the same dollar amount to $10 billion last year.)
Peacock, meanwhile, generated $761 million in ad revenue during the third quarter of 2024, more than double what it did during the same time the previous year.