NBC is renegotiating the broadcast rights for the Macy’s Thanksgiving Day Parade, which may run as high as $60 million per year, three times the current price of $20 million, The Wall Street Journal reported Monday.
The Peacock network is said to be lining up a deal to keep the parade in place for the next 10 years. In 2023, the traditional live broadcast, which NBC has aired since 1953, drew 30 million viewers.
Reps for NBC and Macy’s did not immediately respond to TheWrap’s request for comment.
In 2023, NBC earned $52 million in advertising for the parade, with the average commercial bringing in $865,000, according to advertising research and data firm Guideline.