The deal is made possible by the fact that NBC's parent company, Comcast, holds broadcast rights for the Olympics in the US. The agreement includes a revenue split of the income from advertisements sold by NBC for placement in the stories.
 
It is the first time that NBC agrees to the broadcasting of Olympic’s coverage on third party platforms, giving evidence of the increasing importance that new digital outlets are assuming in the eyes of traditional media. 
 
The deal will not be exclusive to Snapchat, as BuzzFeed, in which NBC invested $200 million last year, will create content on one of Snapchat channels and will distribute it through other platforms with which NBC is in talks, such as Facebook and Twitter. 
 
Snapchat is rumored to be taking actions to consolidate its role in media distribution by negotiating similar deals with companies holding Olympic broadcasting rights in other countries. 
 
Snapchat has more than 100 billion daily users and its potential is being explored by an increasing number of media outlets, including the Wall Street Journal.