Snap is helping NBC keep its Olympics coverage relevant to a younger audience that watches less traditional television. NBC, which owns the rights to broadcast the Olympics until at least 2032, paid $4.38 billion in 2011 and another $7.75 billion in 2014 to extend their rights until the 2032 Summer Olympics.
Bell said Snap and NBC started talking about the Olympics and NBC executives were worried that the $12 billion total investment in broadcast rights would progressively lose value. After the success of the partnership during the Rio games, “the conversation continued about how we could do more together … NBC subsequently invested in Snap and it really helped tighten the relationship,” Bell added.
“Clearly there’s a section of the audience that is young and is spending more time there (on Snapchat) than they are watching linear television, and we’re willing to accept the fact that if we have to pour some more coverage there, we’re gonna continue to do it,” Zenkel added.
The specific coverage that will be available on Snapchat will include Our Story content that is submitted by fans and “Snapchatters” in Pyeongchang, according to NBC’s announcement. Snapchat will curate the submissions to deliver the experience of being at the Olympics.
On the other hand, Publisher Stories will feature content that fully covers the Games and will be produced by Buzzfeed. Buzzfeed will take advantage of NBC’s access to Olympians and venues, the announcement revealed.
“We are working with them (Snapchat) again, we’re very focused. We love that platform, and Buzzfeed a company that NBC has an investment in — is really, really skilled at creating coverage and creating content that is designed for that particular audience,” Zenkel said.
“I won’t get into exact details, but the what I will call ‘coverage’ on Snapchat will take it to a new level in Pyeongchang and we’re excited about that.”