Comcast, IOC reach multibillion dollar agreement on Olympic broadcast rights

Comcast has reached a multiyear agreement with the International Olympic Committee (IOC) to broadcast the games on all platforms in the United States for the Olympic Games through to 2036, meaning they will stay with NBC and Peacock for the foreseeable future.

The deal, which was approved by the IOC Executive Board this week, will begin this year and is valued at an estimated $3 billion through the 2033-2036 cycle.

“There is no event like the Olympics," Comcast Chair Brian Roberts said in a statement on Thursday. "Its power to bring joy, and the unifying spirit it embodies, are truly unique. We live in a time when technology is driving faster and more fundamental transformation than we’ve seen in decades."

As part of the deal, Comcast will assist with the in-venue distribution of the live TV coverage of Olympic Broadcasting Services and collaborate on digital advertising opportunities in the United States.

On top of glitzy prime-time Olympics coverage on NBC, Comcast also offered real-time viewing of thousands of games and events through its Peacock streaming service during the Paris games last summer.

The Paris Olympics were watched by an estimated 67 million people over two weeks, the company said, and were the most-streamed Olympics in history.

Comcast, like all major media conglomerates, has invested hundreds of millions into streaming platforms in recent years, buoyed by growing interest in live sports and entertainment offerings.

The company announced late last year it plans in the coming months to sell off its linear cable assets, including MSNBC, CNBC and the Golf Channel as part of a broader push into digital platforms.

Beginning with Tokyo 1964, NBC has broadcast 19 total Olympic Games and 13 consecutive editions, more than any other U.S. media company.

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