NBC Nails Olympics Rights Through 2032 - KYTX CBS 19 Tyler Longview News Weather Sports

NBC Nails Olympics Rights Through 2032

Posted: Updated:
  • CBS19.tv Web ExclusivesMore>>

  • Web Exclusive: Ultra HD TVs

    Web Exclusive: Ultra HD TVs

    (CNN) -Some people just have to have the latest in television technology. The newest TVs on the market- ultra-high definition TVs- or UHD TVs. They have higher screen resolution than current high def screens, and are also known as "4-K" sets. "More >>
    (CNN) -Some people just have to have the latest in television technology. The newest TVs on the market- ultra-high definition TVs- or UHD TVs. They have higher screen resolution than current high def screens, and are also known as "4-K" sets. "More >>
  • Web Exclusive: A product to help keep sharks away on sale

    Web Exclusive: A product to help keep sharks away on sale

    Monday, July 28 2014 9:40 AM EDT2014-07-28 13:40:46 GMT
    If you're headed on a beach vacation, there's a product you may be interested in to help keep sharks away.  The device is called a Shark Shield.  It is now being sold in Florida.More >>
    If you're headed on a beach vacation, there's a product you may be interested in to help keep sharks away.  The device is called a Shark Shield.  It is now being sold in Florida.More >>
  • Web Exclusive: Back to School costs really add up

    Web Exclusive: Back to School costs really add up

    Friday, July 25 2014 9:14 AM EDT2014-07-25 13:14:59 GMT
    Before you know it, fall will be here and it will be time to go back to school.  For parents that means stocking up on notebooks, number two pencils, and back to school clothes, all of which usually take a big chunk out of a family's budget.  So, just how much do parents will pay to send their kids off to school this year?More >>
    Before you know it, fall will be here and it will be time to go back to school.  For parents that means stocking up on notebooks, number two pencils, and back to school clothes, all of which usually take a big chunk out of a family's budget.  So, just how much do parents will pay to send their kids off to school this year?More >>

(CNN) -- The deal extends the current rights deal that runs through the 2020 Summer Olympics in Tokyo, and covers various platforms including free television broadcasts, pay television, Internet and mobile distribution.

For the current rights deal, which covers four games between 2014 and 2020, NBC is paying $4.48 billion. So this deal covering six games represents a 16% increase in the amount paid per Olympics.

In an era when an increasing number of viewers skip commercials by watching programs on demand, sports rights have become more valuable to broadcasters since viewers are more likely to watch live. The Olympics draw enough viewers as well as advertising support to be profitable for the broadcaster, even at such lofty prices.

The 2012 Summer Olympics in London drew an average of 31 million viewers during prime time for NBC, up 12% from the 2008 games in Beijing. It generated $1.2 billion in revenue for the network.

The 2014 Winter Olympics in Sochi, Russia had slightly lower viewership than the previous winter games in Vancouver, but was the top-rated program on all 18 nights it aired. It generated $1.1 billion in revenue for NBC.

"The Olympics are part of the fabric of our company, and we couldn't be more excited that today's announcement guarantees that this massively popular and profitable programming will continue to air every two years on the broadcast, cable, digital and mobile platforms of NBCUniversal for the next two decades," said NBCUniversal CEO Steve Burke.

The 2032 Olympics will be the 23rd to be broadcast by NBC. The deal has been announced so far in advance that some of the Olympians who compete in those games likely have not been born yet.

Broadcast rights are the leading source of revenue for the International Olympic Committee, accounting for 47% of its funds, according to the most recent financial report. And the U.S. rights are by far the most lucrative in the world.

"This agreement is excellent news for the Olympics as it helps to ensure its financial security in the long term," said IOC President Thomas Bach.

After the midday announcement, shares of NBC owner Comcast recovered some of their earlier losses.

Click for Local Doppler Radar
Powered by WorldNow

CBS19, MYTX & KCEB
2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.