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.

Here's everything to know about the 98th annual Macy's Thanksgiving Day Parade, including how to watch the festive event and who is performing.

Macy’s and NBC near pact that would raise the spectacle’s annual average price to $60 million.