NBC, Olympics Reach $3 Billion Rights Extension

NBC will remain the home of the Olympics for at least another decade.

The International Olympic Committee and NBCUniversal, a division of Comcast, announced Thursday that the two sides have reached an extension for the Olympics to stay at NBC through 2036. The rights deal previously went through 2032; the 2034 Winter Olympics are in Salt Lake City and the location of the Summer Games in 2036 has not been decided yet.

The extension is worth $3 billion, Front Office Sports has confirmed. The figure was first reported by The Hollywood Reporter. 

The news comes on the heels of last year’s Summer Olympics in Paris, which drew high TV viewership and rave reviews as everything aired live on a combination of NBC, the Peacock streaming service, and cable networks like USA.

“There is no event like the Olympics. Its power to bring joy, and the unifying spirit it embodies, are truly unique,” Comcast chairman Brian Roberts said in a statement. “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 recognizes this dynamic but anticipates that it will accelerate.”

NBC has been the exclusive broadcaster of the Summer Olympics since 1988 and the Winter Olympics since 2002.

Elsewhere in sports, NBC has fortified its live rights portfolio. In 2022, NBC finalized a deal with the Big Ten worth about $350 million per year for football, basketball, and other sports like volleyball. Starting this upcoming season, NBC will be paying about $2.5 billion a year as part of an 11-year pact with the NBA. The NFL Sunday Night Football package has been the most-watched show in prime time on all of TV for 16 consecutive years.