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Investing.com -- The International Olympic Committee (IOC) and Comcast (NASDAQ:CMCSA) NBCUniversal have entered into a new strategic partnership for the digital era. This partnership capitalizes on the opportunities presented by the evolving media landscape and the unique expertise of the global media and technology company.
This agreement, approved by the IOC Executive Board yesterday, will commence in 2025. It not only includes the media rights on all platforms in the United States for the Olympic Games through to 2036, but also new strategic initiatives and projects. The partnership extends the existing relationship between the IOC and Comcast NBCUniversal from a media rights-holder to a strategic partner.
The media rights extension for the 2033-2036 cycle, which covers the Olympic Winter Games Salt Lake City-Utah 2034 and the Olympic Games 2036 (host yet to be determined), is valued at $3 billion. This substantial investment contributes significantly to the long-term financial stability of the Olympic Movement. The IOC distributes 90% of its generated revenue to support athletes and sports organizations globally.
The new partnership offers additional value immediately, including building on Comcast’s expertise in technology infrastructure, media, and connectivity to support the Olympic Games delivery. It also provides support for the live TV coverage distribution at venues by the Olympic Broadcasting Services (OBS), assistance to OBS in producing the Olympic Video Player, collaboration on digital advertising opportunities in the US, and the IOC benefitting from Comcast’s investment in relevant and innovative start-ups.
The media rights agreement extension across all platforms in the US for the Olympic Games until 2036 includes NBCUniversal and its streaming platform Peacock.
IOC President Thomas Bach stated that the agreement is groundbreaking as it transcends the traditional media rights agreement they had with their valued partner for many years. He added that the innovative approach of serving on all platforms, from linear to streaming and digital, will take their partnership to new heights for the benefit of athletes, Olympic stakeholders, Organizing Committees, and fans.
Comcast Chairman and CEO Brian Roberts expressed that it’s their honor to continue bringing the full power of their company’s expertise in creating and distributing content that connects with Americans. He added that they are excited to provide even more innovative technological support and solutions to the IOC and its stakeholders in areas that benefit athletes and the many people dedicated to organizing the Olympic Games around the world.
The President of the United States Olympic and Paralympic Committee (USOPC), Gene Sykes, said this partnership signifies a new era of collaboration and engagement that will enhance the Olympic and Paralympic Movements immediately. He added that they are excited to leverage innovative technologies and shared resources that will ensure an unforgettable experience for athletes and fans alike.
NBCUniversal’s full coverage of Paris 2024 generated consumption records and milestones. The company’s coverage reached an average of 67 million total viewers per day across its broadcast, cable, and streaming platforms. Fans streamed 23.5 billion minutes of NBCUniversal’s Paris 2024 coverage, led by streaming service Peacock – 40 per cent more than all prior Olympic Summer and Winter Games combined. Gen Z powered a record 6.55 billion impressions across NBCUniversal’s social media platforms for Paris 2024, a 184 per cent increase compared to Tokyo 2020.
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