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. This year, the average price per spot is nearly $900,000, WSJ reported.
The cost of the production of the parade has also climbed in recent years due to the increase in celebrity appearances and fees, which can run up to six figures. The bill for this year’s broadcast is estimated to approach $7 million, up from $4 million a few years ago.
Celebrities already booked for the 2024 parade include Jennifer Hudson, Kylie Minogue and Chloe Bailey, as well as “Pose” Emmy winner Billy Porter, “Dancing With the Stars” champ Charli D’Amelio, “Vanderpump Rules” star Ariana Madix and Coco Jones of “Bel-Air.”
The event will also feature performances from original “Wicked” star Idina Menzel and rapper T-Pain, while “Glow” star Alison Brie will kick off the parade with a ribbon cutting.
“Today” hosts Savannah Guthrie, Hoda Kotb and Al Roker will return as emcees, and “The Tonight Show” host Jimmy Fallon and his house band The Roots are also set to make an appearance.
