By Robb M. Stewart

Comcast NBCUniversal has broadened its relationship with the International Olympic Committee and extended its media rights to the Olympic Games on its various platforms in the U.S. through 2036 in a move valued at $3 billion.

The media and entertainment company said Thursday that the partnership was approved by the IOC's executive board this week and will take its role to strategic partner from media-rights holder beginning this year. At the same time, Comcast extended its media rights to the Games over 2033 to 2036, which would cover the Salt Lake City-Utah Games in 2034 and the Summer Games in 2036 in a yet-to-be-determined location.

Comcast said it would offer immediately to the IOC services such as in-venue distribution of the live-TV coverage of Olympic Broadcasting Services, collaboration on digital-advertising opportunities in the U.S. and its technology infrastructure, connectivity and media to support the delivery of the Games.

The extension of the media-rights deal will include all of Comcast's U.S. platforms, including its streaming-service Peacock.

The IOC's pact with Comcast goes beyond the traditional media-rights agreement that the committee has had for many years with its partner, IOC President Thomas Bach said.

Beginning with the Tokyo Games in 1964, NBCUniversal has presented 19 total Olympic Games.

The company said its 2024 coverage of the Summer Olympics in Paris generated consumption records and milestones with coverage reaching an average of 67 million total viewers a day across its broadcast, cable and streaming platforms. Viewers streamed 23.5 billion minutes of NBCUniversal's Paris Games coverage, 40% more than all prior Summer and Winter Games combined, it said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 13, 2025 13:07 ET (17:07 GMT)

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