NBC Universal has agreed to a deal valued at $7.65 billion to keep the broadcast rights for the Olympics through 2032, the International Olympic Committee announced Thursday. The deal includes six Olympic Games.
The broadcast rights from 2021 to 2032 were acquired for all media platforms, including TV, internet and mobile. The agreement also includes a $100 million signing bonus to be used for "promotion of Olympism and the Olympic values" between 2015 and 2020.
Is this a big deal?
NBC's previous agreement included four Olympics through 2020 and cost the network $4.4 billion when the deal was negotiated in 2011. That deal was reached after a bidding war that included Disney's ESPN/ABC and News Corp.'s Fox Sports.
IOC President Thomas Bach said Wednesday the new agreement is excellent news for the 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.
"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," Bach said in a statement.