Comcast Extends Olympics Through 2036, Paying $3B And Going From Rights Holder To Strategic Partner

deadline.com:

Comcast is paying $3 billion to extend its Olympics rights deal through 2036. The renewal with the International Olympic Committee will give two more Olympic Games to NBCUniversal, including the 2034 Winter Olympics in Salt Lake City/Utah and the 2036 Summer Games in a city to be determined.

The prior long-term deal was slated to run through 2032. NBC began regular coverage of the Summer Olympics in 1988, prior to the formation of NBCUniversal and the merger with Comcast. (The Winter Games would join the fold in 2002.) In a marketplace of ever-shifting sports rights deals and deep-pocketed tech firms disrupting the chase for rights, the match between the Olympics and NBCU is a rare constant.

The deal comes on the heels of the 2024 Summer Olympics in Paris, by all accounts a smash hit for NBCU, boosting Peacock tune-in and subscribers, lifting NBC in prime time, and bringing in a record advertising haul.

The International Olympic Committee and Comcast said the deal also transforms the relationship with the media company, making it not just a rights holder but a strategic partner.