Comcast's new $3 billion agreement with the International Olympic Committee (IOC) extends their media rights for the Olympic Games through to 2036 and redefines their relationship from mere rights holder to strategic partner. This deal will enable collaboration on several fronts, including broadcast infrastructure and U.S. digital advertising. IOC President Thomas Bach emphasized the importance of adapting to a rapidly evolving media landscape. Comcast aims to leverage this partnership to boost subscriptions for its streaming service, Peacock, and expand its live sports offerings.
This agreement with Comcast is groundbreaking because it goes far beyond the traditional media rights agreement which we have had for many years with our valued partner.
We live in a time when technology is driving faster and more fundamental transformation than we've seen in decades.
The media landscape is evolving rapidly and, by partnering with one of the world's leading media and technology companies, we will ensure that fans in the United States are able to experience the Olympic Games like never before.
The deal comes as Comcast and its NBCUniversal unit aim to use live sports to drive subscriptions to the streaming service Peacock.
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