Lazarus: NBC Broke Even on Olympics
Having tallied up all the advertising dollars that poured into its coffers during the 2012 London Summer Olympics, NBC announced it broke even on the Games.
Speaking at the Bloomberg Sports Business Summit in New York, Mark Lazarus, chairman of NBC Sports Group, said the Olympic credits and debits all balanced out rather nicely. “From a financial point of view the Games, on a discrete basis, were a break-even proposition for us,” Lazarus said, adding that the result was “far healthier…than we had planned on going in.” NBC approached the 17-day extravaganza anticipating a $200 million net loss. All told, the network booked north of $1 billion in ad inventory, atop which it sprinkled nearly $300 million in affiliate and digital revenue. Rights fees and production costs ate up approximately $1.28 billion. Lazarus suggested that it may be too soon to assess the long-term impact of the Summer Games, which drew 219.4 million total viewers, making it the most-watched event in U.S. television history.