NBC grabs Olympic TV rights through 2032
$7.65 billion deal covers next nine Games and all media platforms
May 8, 2014
The Olympic Games won’t be changing the dial for quite some time.
Longtime broadcaster NBC today extended its deal with the International Olympic Committee, agreeing to carry the Games through 2032.
This builds on a deal reached in 2011 for NBC to air every Olympics through 2020.
The agreement, reportedly worth $7.65 billion, includes both Winter and Summer Games. The locations for Olympics beyond 2020 have not been chosen, but the next three will be held in Rio (summer 2016), PyeongChang (winter 2018) and Tokyo (summer 2020).
The deal covers rights to all media, including broadcast, cable, web and mobile.
There was no pressing need to get another agreement done so quickly, but a statement from the IOC president suggests the organization was eager to secure money for future host cities.
“This agreement is excellent news for the entire Olympic Movement as it helps to ensure its financial security in the long term, in particular future host cities of the Olympic Games, the athletes of the 204 National Olympic Committees and the International Sports Federations,” said Thomas Bach in a statement.
The IOC also said that it was also receiving an additional $100 million signing bonus from NBC that will be used to promote the Olympics and Olympic values through 2020.
The Olympics produce big ratings for NBC and its cable properties, though viewership was down during the Winter 2014 Games from Sochi.
Comcast, which owns NBCU, says that the Games were profitable, after losing money on the 2010 Games in Vancouver.
The new deal covers six Olympics. The previous deal covers four and was worth $4.4 billion, so the cost has gone up slightly.
The IOC once again chose NBC, doing so despite interest from Fox and ABC/ESPN. Like NBC, they have cable properties that would heavily benefit from carrying the Games, but the IOC has been uninterested in partnering with anyone else for years.
NBC has carried the Games since 2000.