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If the song was used by NBC in a news piece then they can use as much as they want as long as the piece is about the song. But if the song was used by The Olympic Organizer Committee then odds are that they payed the necessary permits that allows the usage of such music. All networks pay those permits in order to use that music anyways. The same permits payed by restaurants and stores.
All music regardless of the amount used needs the proper permits for its usage along with the recognition of author, title, and related info. Regardless if its used for non-profit or school project. Same goes for clips from movies or TV shows. If they are going to be rebroadcasted in any way, shape, or, form then you need to pay.
Hope that answers your questions.
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