Comcast expands partnership with Olympics, Extends Media Rights Through 2036

Comcast And the International Olympic Committee Have Agreed on a New Deal that expands the company’s broadcast reag and extends its media rights for the olympic games through 2036.

In a thuresday News releaseThe committee said the roughly $ 3 billionAgreement elevates comcast from a media rights holder to a “Strategic Partner.” Comcast and the Organization will collaborate on broadcast infrastructure, in-venue distribution and us digital advertising, among other items, the ioc said.

“This agreement with comcast is groundbreaking The announsement. “The media landscape is evolving rapidly and, by partnering with one of the world’s leading media and technology companies, we will ensure that fans in the united states in the united states are alive to experience Like Never Before. “

Comcast’s Previous Agreement with the Olympic Committee would have terminated after the 2032 olympics in Brisbane, Australia. The new deal grants comcast the rights to broadcast the 2034 winterOlympics in Salt Lake City as Well as the 2036 SummerOlympics in a not-yet-determined city.

“We live in a time when technology is driving faster and more fundamental transformation than we’ve seen in decades. Olympic committee not only recognies this dynamic but anticipates that it will access, “Comcast Chairman and CEO Brian Roberts said.

The deal comes as comcast and its nbcunivarsal unit aim to use live sports to drive subscriptions to the streaming service peacock. NBC will spend about $ 2.5 billion per year to Carry a package of NBA Games Starting Next Season.

DURING LAST Year’s Summer Olympics in Paris, The Push Toward Olympics Coverage on Peacock appeared to pay off For the company. Over 30 Million People Watched The Olympics on NBC’s Television and Streaming Platforms, and Advertising Reveenue Came in at a Record $ 1.2 billion.

Disclosure: Comcast is the Parent Company of NBCUNIVERSAL and CNBC.