BERLIN (Reuters) -The International Olympic Committee and Comcast-owned NBCUniversal have agreed a $3 billion extension of their Olympic Games media rights contract for the United States to 2036, the IOC said on Thursday.
The deal, which covers all media in the United States, also includes joint projects with the broadcaster on technology infrastructure and digital advertising among other.
“The extension of the media rights for the 2033-2036 cycle, covering the Olympic Winter Games Salt Lake City-Utah 2034 and the Olympic Games 2036 (host yet to be determined), is valued at $3 billion and is a major contribution to the long-term financial stability of the entire Olympic Movement,” the IOC said in a statement.
Los Angeles will host the 2028 summer Olympics.
The U.S. broadcaster, whose previous deal ran until the 2032 Brisbane summer Olympics, is the biggest single biggest source of revenue for the IOC.
The IOC’s total revenues from all broadcast rights deals for the period 2017-2021 were $4.54 billion.
The announcement of the deal came days before the election of a new IOC president, to succeed outgoing Thomas Bach after 12 years, at a vote in Greece on March 20.
Bach’s departure comes with the organisation in a financially robust position, having secured $7.3 billion from media rights, sponsorship and another revenue streams for 2025-28 and $6.2 billion in contracts for 2029-2032. More deals are expected for both four-year periods.
(Reporting by Karolos Grohmann, Editing by Andrew Heavens and Ed Osmond)
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