NBCUniversal Pays $7.65 Billion To Air Olympic Games Through 2032
Posted by Joseph Lee on 05.07.2014
Not leaving the network any time soon...
Coming Soon reports that NBCUniversal has paid around $7.65 billion to the International Olympic Committee to keep the USA broadcast rights for the Olympic Games through 2032. This includes all media platforms like free-to-air TV, subscription TV, internet and mobile. It runs from 2021 to 2032 is valued at $7.65 billion with another 100 million signing bonus for the promotion of the Olympism and the Olympic values between 2015 and 2020. The IOC distributes over 90% of the revenue to support the International Sports Federations; the 204 National Olympic Committees and their Olympic teams; and the Organizing Committees of each Olympic Games.
IOC President Thomas Bach led the negotiations. He said: "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. The IOC has worked in close partnership with NBC for many decades, and we are thrilled we will continue to work with them through to 2032. NBC's expertise in sports broadcasting, as well as their passion for the Olympic values, will mean we shall be able continue to offer first-class broadcast coverage of the Olympic Games to the widest possible American audience for many years to come."
Brian Roberts, Chairman and CEO, Comcast Corporation added: "The Olympics are the world's greatest cultural and athletic event, and presenting them to the American audience is an honor and privilege for our entire company. Our long-term commitment to and investment in the Olympic Movement are a reflection of our belief in the future of broadcast television, as well as our confidence that our partners at the IOC will continue to deliver great Games and that the Olympics will remain the world's premier sports event. All of us at Comcast NBCUniversal are extremely proud that we have been entrusted to be the U.S. home for nine more Olympics, and we look forward to using all of our resources to continue our tradition of ground-breaking Olympic coverage.
Steve Burke, CEO, NBCUniversal, said: "This is one of the most important days in the history of NBCUniversal. The Olympics are part of the fabric of our company, and we couldn't be more excited that today's announcement guarantees that this massively popular and profitable programming will continue to air every two years on the broadcast, cable, digital and mobile platforms of NBCUniversal for the next two decades. No event brings families together like the Olympics, and no-one in media is more accomplished or better equipped to tell the athletes' stories than NBC Sports. I want to thank the IOC for their faith in us, as well as Sports Group Chairman Mark Lazarus and NBC Olympics President Gary Zenkel, whose leadership was invaluable in bringing this deal to fruition."
NBCU previously acquired the rights to the Games until 2020 (including the XXXI Olympiad in Rio de Janeiro, Brazil, in 2016, the XXIII Olympic Winter Games 2018 in PyeongChang, and the Games of the XXXII Olympiad 2020 in Tokyo) in 2011. It will now broadcast every edition until 2032, but the host cities haven't been revealed. NBCU will also broadcast every edition of the Youth Olympic Games through 2032. By that time, it will have covered 23 editions of the games since its first broadcast in Tokyo in 1964.