Churchill Downs, NBC extend Kentucky Derby broadcast deal until 2032

Churchill Downs Inc. and NBCUniversal, the parent company of NBC Sports, have reached an extension on the network’s Kentucky Derby broadcast rights that will keep the race on the company’s broadcasting platforms until 2032, the two companies announced on Saturday.

The extension includes “multi-platform rights” to the Derby, the Kentucky Oaks, and the supporting cards for both races, according to the companies. NBCUniversal owns NBC Sports, the Peacock streaming service, the USA Network, and several other broadcasting platforms.

The previous agreement between the two companies was set to expire after the Kentucky Derby next year. The extension will make NBC and its broadcasting platforms the home of the Derby and the Oaks for a total of at least 32 years. The Derby was first broadcast on NBC in 2001.

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The Kentucky Derby is the single-most valuable broadcasting property in racing and commands a significant rights fee. With the exception of the other two Triple Crown races, all other major U.S. race broadcasts are funded through revenue- and cost-sharing agreements with networks.

Last year, the Derby broadcast peaked at 16.6 million viewers, across all platforms, according to NBC. It was the largest audience for a sporting event up to that point of the year since the Super Bowl.

“Telling the rich stories surrounding the Kentucky Derby on the first Saturday in May is part of the fabric of NBC Sports, and we are thrilled to continue that tradition with Churchill Downs,” said Rick Cordella, the president of NBC Sports, in a release. “We look forward to surrounding the Kentucky Oaks and Kentucky Derby with wall-to-wall coverage and extensive promotion on the platforms of NBCUniversal.”

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