NBC Universal chief executive Steve Burke has said the US media company secured more than $250m (€224.2m) in profit from its coverage of the 2016 summer Olympics, a significant improvement from the 2012 Games in London.
Speaking yesterday (Wednesday) at the Bank of America Merrill Lynch 2016 Media, Communications and Entertainment Conference in Los Angeles, Burke said strong advertising sales had boosted NBCU.
Rio 2016 advertising sales rose more than 20 per cent to $1.2bn, compared with the 2012 London Olympics, which generated $120m in profit for NBCU. Burke noted that NBCU had lost as much as $200m on Olympic Games broadcasts in the past.
Rio 2016 took place in a favourable time zone for US audiences, while the United States topped the medal table with 46 golds and 121 medals in total. In May 2014, NBCU extended its media rights deal for the Olympic Games through to 2032 in a deal that the International Olympic Committee said would secure the long-term financial security of the Olympic Movement.
NBCU acquired rights across all media platforms, including free-to-air television, subscription television, internet and mobile. The agreement, from 2021 to 2032, was valued at a basic $7.65bn.