Google (GOOGL)-owned YouTube TV just scored a major win. The tech giant reached a multi-year deal with Comcast’s (CMCSA) NBCUniversal to keep popular shows like Sunday Night Football and America’s Got Talent on the streaming platform. The agreement ends tense negotiations and helps secure YouTube TV’s place in the competitive streaming market.
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The deal announced Thursday follows the expiration of the previous agreement between these companies on September 30. The companies had agreed to a short-term extension while final terms were being negotiated over how much YouTube TV should pay to keep NBC content available for its 10 million subscribers.
NBCUniversal, Google’s Long-Term Agreement
As part of the new agreement, YouTube TV will carry all of NBCUniversal’s networks for years to come. This includes NBC, Telemundo, Bravo, CNBC, Golf Channel, MSNBC, USA, Syfy, and more. Later this year, the new NBC Sports Network will also join the lineup.
Additionally, viewers will be able to subscribe to NBC’s streaming service, Peacock, through YouTube Primetime Channels and watch NBC highlights, short clips, and premium shows on YouTube. Peacock will also stay available on Google’s Android platforms, including Google Play and Google TV.
What This Deal Means for Both Companies
Matt Schnaars, NBCUniversal’s president of platform distribution and partnerships, called the deal with Google a win for both the company and its viewers. He said the agreement guarantees long-term access to all NBCUniversal networks on YouTube TV and helps it reach more audiences across platforms.
Meanwhile, for YouTube, the deal keeps its strong partnership with NBCUniversal and makes it easier to offer shows where and how viewers want to watch them.
Earlier in August, Google signed a similar deal with Fox (FOXA), keeping YouTube TV subscribers’ access to Fox channels after negotiations and blackout warnings.
Are Google Shares a Good Buy?
Overall, Wall Street analysts have a Strong Buy consensus rating on GOOGL stock based on 30 Buys and eight Holds assigned in the past three months. The average GOOGL price target of $248.08 per share implies a 0.97% upside potential.
