Comcast and the International Olympic Committee have reached a new deal that extends the company’s media rights for the Olympic Games through 2036. The approximately $3 billion agreement elevates Comcast from a media rights holder to a strategic partner. The collaboration between Comcast and the IOC will focus on broadcast infrastructure, in-venue distribution, and U.S. digital advertising. The deal grants Comcast the rights to broadcast the 2034 Winter Olympics in Salt Lake City and the 2036 Summer Olympics in a city yet to be determined.
IOC President Thomas Bach called the agreement groundbreaking, stating that it would allow fans in the United States to experience the Olympic Games like never before. Comcast Chairman and CEO Brian Roberts emphasized the rapidly evolving media landscape and technological advancements driving transformation. The partnership between Comcast NBCUniversal and the IOC aims to anticipate and accelerate these changes.
The deal comes as Comcast and NBCUniversal focus on leveraging live sports to drive subscriptions to the streaming service Peacock. NBC has secured rights to carry NBA games starting next season and aims to capitalize on the success of the Olympics coverage on Peacock during the last Summer Olympics in Paris. The event attracted over 30 million viewers across television and streaming platforms, with advertising revenue reaching a record $1.2 billion. Comcast is the parent company of NBCUniversal and NBC News.
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