NBCUniversal’s bet on the Olympics has paid off, with over 30 million viewers tuning in to watch the games on NBC’s TV and streaming platforms, including Peacock. The company generated a record $1.2 billion in advertising revenue. NBC executives are now looking to extend the benefit of the Olympics beyond the games and into future live sports. They completely changed their game plan and started fresh, focusing on production and company-wide counterparts.
The Tokyo and Beijing Olympics drew low audiences, but there were factors outside of NBCUniversal’s control. Both games were affected by the early stage of the pandemic, with Tokyo being postponed by a year and no fans or families present at either event. The time zone difference from Asia also worked against the U.S. broadcast. Additionally, the strategy for Peacock during those games was a misstep, with very few events available to stream live in Tokyo and fans having trouble finding what they wanted to watch in Beijing.
The success of this year’s Olympics can be attributed to various factors. The eye-catching scenery in Paris, including the Opening Ceremony on the Seine River and beach volleyball played in front of the Eiffel Tower, captivated viewers. NBCUniversal also began marketing the Olympics much earlier and aired the Olympic trials in the weeks leading up to the games, which garnered high viewership. The strategic use of NBC talent, such as Snoop Dogg and Mariska Hargitay, further contributed to the success.
The streaming platform Peacock was a standout during the Olympics, with 23.5 billion minutes of the games being streamed, up 40% from all prior Summer and Winter Olympics combined. Peacock offered all live coverage and exclusive shows like “Gold Zone,” providing fans with more options for all-day viewing. The platform also featured specific functions for the Olympics, such as an artificial intelligence function with daily recaps in the voice of Al Michaels. Approximately 2.8 million consumers signed up for Peacock during the first week of the Summer Games.
While traditional TV still made up the majority of viewership during the Paris Games, Peacock’s success during the Olympics sets a precedent for future events. NBC plans to use the same strategy for the Milan Winter Olympics in 2026, the Los Angeles Summer Games in 2028, and other live sports aired on NBC’s TV networks and Peacock. The company is confident in Peacock’s ability to provide sophisticated sports coverage.
Overall, NBCUniversal’s investment in the Olympics and its focus on Peacock as a streaming platform have proven to be successful. By adapting their game plan, marketing the events early, and utilizing their own talent strategically, NBC was able to attract a significant number of viewers and generate record advertising revenue. The lessons learned from the Tokyo and Beijing Olympics will shape the future of live sports coverage on NBC networks and Peacock.
