NBC pays hefty $3 billion price tag to retain Olympics rights

The 2024 Paris Olympics were a ratings windfall for NBC and its parent company, Comcast. The network reported a total audience delivery average of 30.4 million viewers over 7,000 hours of coverage.

The Opening Ceremonies alone drew 28.6 million viewers, which was the most since 2012. In an era of almost universally declining television ratings, the latest Summer Olympics proved to be one of television's most resilient properties.

Not surprisingly, when Comcast extended its broadcast agreement with the IOC on Thursday, it paid the price.

Wednesday, Comcast officially agreed to pay the IOC $3 billion to keep NBCUniversal and Peacock as the U.S. television and streaming home through 2036. The Hollywood Reporter was first to report the news.

“There is no event like the Olympics. Its power to bring joy, and the unifying spirit it embodies, are truly unique,” Comcast chairman Brian Roberts said in a statement confirming the agreement Thursday. “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 recognizes 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 organizing the Olympic Games around the world.”

The extension of the media rights for the 2033-36 cycle covers the 2034 Winter Games in Salt Lake City and the 2036 summer Games, whose site has yet to be determined.

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