NBC inks $3 billion deal to secure Olympics broadcasting until 2036

NBC has secured the rights to broadcast the Olympics until 2036 after huge ratings were generated with the Paris Olympics.

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Comcast NBCUniversal has announced a $3 billion deal with the International Olympic Committee (IOC) to keep the Olympics on NBC and Peakcock until at least 2036, following a huge success with last summer's Paris Olympics that secured more advertisers than the 2016 Rio Games, and the 2020 Tokyo Games - combined.

According to NBC, digital ad revenue from the Paris Games doubled the ad revenue generated by Tokyo and was even so successful that it set a new record high for NBCUniversal. The newly inked deal secures the broadcasting and streaming rights for the 2034 Winter Games in Salt Lake City, along with the 2036 Summer Olympics, and is an extension of NBC's current contract with the IOC that states NBC maintains the Olympics rights until 2032, which the games are scheduled to take place in Brisbane, Australia.

"It is our honor to continue to bring the full power of our company's expertise in creating and distributing content that connects with Americans, as well as to begin to provide even more innovative technological support and solutions to the IOC," said Comcast chairman and CEO Brian Roberts

The $3 billion price "underscores the growing importance of live events for media companies-including streaming giants such as Netflix -which are increasingly drawn to the massive audiences and advertising opportunities such programming provides," wrote Bruce Gil at Quartz

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