The Olympic Games will remain with its traditional U.S. home for at least four more years.
Comcast and the International Olympic Committee announced Thursday a four-year extension of their media rights agreement that will keep the Olympic Games on NBC Sports platforms through 2036. The previous contract was set to expire after the 2032 Summer Games in Australia, but will now include the 2034 Winter Games in Salt Lake City and the 2036 Summer Games at a host site to be determined.
The deal was valued at $3 billion for both Games. The previous contract, which covers the six editions between 2022 and 2032, was priced at $7.75 billion, roughly $1.3 billion per Games. The transaction is among the final major moves of the career of IOC president Thomas Bach, who is set to depart the role later this year.
The deal strengthens the strategic partnership with the two sides and includes a number of additional initiatives including Comcast’s infrastructure capabilities to support the games, supporting in-venue TV coverage during the Games, and collaboration on advertising opportunities.
Comcast’s contract with the IOC is among the largest sources of revenue for the committee. A joint statement from both sides notes that the NBC contract “is a major contribution to the long-term financial stability of the entire Olympic Movement.” NBC flexes this role during the Olympics, when it is given influence over event scheduling to maximize US viewership.
Specific details about coverage of future Olympics was sparse. The announcement notes that the Peacock streaming platform will be a part of future coverage, but made no specific mention of the cable networks Comcast is attempting to spin off from its portfolio. NBC has previously announced that USA Network and CNBC (in addition to NBC and Peacock) will be a part of its coverage of the upcoming 2026 Winter Games in Italy.
Prior to the announcement, there had been some speculation that the IOC could open up bidding to new partners, including deep-pocketed tech companies eager for major sports rights. This particular cycle has enhanced value because of the US-based Games in 2034. It appears that, at least for the relatively short term, the IOC prefers to stick with the known entity in Comcast.
NBC began televising the Olympics in the United States in 1964 and has televised every edition of the Games since 2000.
