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Comcast expands partnership with Olympics, extends media rights through 2036
CMCSAComcast(CMCSA) CNBC·2025-03-13 18:15

Core Insights - Comcast has entered into a groundbreaking agreement with the International Olympic Committee (IOC) that extends its media rights for the Olympic Games through 2036, elevating its status from a media rights holder to a "strategic partner" [2][3]. Group 1: Agreement Details - The new deal is valued at approximately 3billionandincludescollaborationonbroadcastinfrastructure,in−venuedistribution,andU.S.digitaladvertising[2].−Comcastwillnowhavetherightstobroadcastthe2034WinterOlympicsinSaltLakeCityandthe2036SummerOlympicsinayet−to−be−determinedcity[3].Group2:StrategicImplications−Thepartnershipisdesignedtoadapttotherapidlyevolvingmedialandscape,ensuringthatfansintheU.S.canexperiencetheOlympicGamesininnovativeways[3][4].−Comcastaimstoleveragelivesports,includingtheOlympics,todrivesubscriptionstoitsstreamingservice,Peacock,whichhasshownpromisingresultsduringpreviousOlympiccoverage[5].Group3:FinancialContext−NBCUniversal,asubsidiaryofComcast,planstoinvestabout3 billion and includes collaboration on broadcast infrastructure, in-venue distribution, and U.S. digital advertising [2]. - Comcast will now have the rights to broadcast the 2034 Winter Olympics in Salt Lake City and the 2036 Summer Olympics in a yet-to-be-determined city [3]. Group 2: Strategic Implications - The partnership is designed to adapt to the rapidly evolving media landscape, ensuring that fans in the U.S. can experience the Olympic Games in innovative ways [3][4]. - Comcast aims to leverage live sports, including the Olympics, to drive subscriptions to its streaming service, Peacock, which has shown promising results during previous Olympic coverage [5]. Group 3: Financial Context - NBCUniversal, a subsidiary of Comcast, plans to invest about 2.5 billion annually to carry a package of NBA games starting next season, indicating a strong commitment to live sports [5]. - During the last Summer Olympics in Paris, over 30 million viewers engaged with NBC's television and streaming platforms, generating a record advertising revenue of $1.2 billion [5].