Netflix has flexed its muscles again, acquiring the streaming rights to "Seinfeld," beginning in 2021, according to company officials.
In a statement to the Los Angeles Times, the company said that as part of a deal with Sony Pictures Television, Netflix will offer all 180 episodes of “Seinfeld” in the U.S. and its 151 million subscribers throughout the world when the deal's "go button" date hits in 2021.
“‘Seinfeld’ is a one-of-a-kind, iconic, culture-defining show,” Sony Pictures Television Chairman Mike Hopkins said in a statement to The Times. “Now, 30 years after its premiere, ‘Seinfeld’ remains center stage. We’re thrilled to be partnering with Netflix to bring this beloved series to current fans and new audiences around the globe.”
Terms of the deal were not made public, but industry experts say Netflix would have paid more than $500 million for the five-year-deal. The original deal for Seinfeld with Hulu in 2015 ran $160 million.
The deal is reportedly a huge move for Netflix, which recently lost two of its biggest series: both Friends and The Office will return exclusively to stream on HBO Max and NBCUniversal’s, according to the Times.
Seinfeld co-owners, including WarnerMedia, CBS, Jerry Seinfeld, and co-creator Larry David will share in the money from the Netflix deal, according to the Times.
Seinfeld already has a deal with Netflix, with his show "Comedians in Cars Getting Coffee."
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