Comcast agrees $3bn Olympics rights and technology deal

Comcast NBC Universal has agreed a $3bn deal that will keep its NBC network and streaming platform Peacock as the US homes of the Olympic Games through 2036.

The extension of the media rights for the 2033-2036 period will cover the Olympic Winter Games Salt Lake City-Utah 2034 and the Olympic Games 2036 (whose host city is yet to be determined).

2. IOC headquarters in Lausanne, Switzerland - shutterstock_1634131159.jpg — IOC headquarters in Lausanne, Switzerland

The International Olympic Committee (IOC) described the $3bn deal as “a major contribution to the long-term financial stability of the entire Olympic movement.”

The agreement also includes new joint strategic initiatives and projects. Comcast NBCUniversal will move from being a media rights-holder to strategic partner.

Comcast will help to support the delivery of the Olympic Games with its technology infrastructure, connectivity and media.

It will also provide support for the in-venue distribution of the live TV coverage of Olympic Broadcasting Services (OBS). It will also support OBS in the production of the Olympic Video Player, and collaborate on digital advertising opportunities in the United States.

NBCUniversal has been the home of the Olympics in the United States since 1964.

IOC President Thomas Bach said: “This agreement with Comcast is groundbreaking because it goes far beyond the traditional media rights agreement which we have had for many years with our valued partner.”

Comcast Chairman and CEO Brian Roberts said: “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 recognises this dynamic but anticipates that it will accelerate.”