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"The Big Bang Theory", one of the most popular TV shows of the past 20 years, was bound to be very expensive when streaming rights were finally purchased in a burgeoning market for iconic comedies large libraries.
But "Big Bang Theory" was not widely used in the free market before the signing of the HBO Max streaming deal and the four-year TBS cable extension announced early Tuesday morning. The reason is because of a provision in the original Megabucks syndication agreement that TBS signed with "Big Bang" in 2010.
Only ten years ago, this agreement provided that streaming services could compete with cable channels for broadcasting rights. The agreement granted TBS several years of exclusivity for the show, preventing the producer of "Big Bang" Warner Bros. TV to sell the streaming or on-demand license fees separately from the cable contract. TBS's exclusivity window has grown almost a year in each season when "Big Bang" remained in the first series production for CBS. Once the show ended in May, CBS ended TBS's 2024 exclusivity window.
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For the rights of the "Big Bang" to be ready for the spring 2020 launch HBO Max, the SCT had to give up this exclusivity and get something back. Although TBS, HBO Max and Warner Bros. TV's all belong to the same family, the transaction was conducted independently and scrutinized by representatives of co-creators and profit participants, Chuck Lorre and Bill Prady. For the agreement to work for all parties, including profit participants, WarnerMedia has stepped up efforts to protect the various rights. It is unclear how the TBS was compensated for waiving its rights, but this results in an extension until 2028 of the cable rights that would otherwise have ended in 2024.
A representative from WarnerMedia declined to comment.
Due to TBS rights, it was not possible for WarnerMedia to purchase the show from outside buyers. The joint parent company – and the joint executives of TBS and HBO Max in Bob Greenblatt, president of WarnerMedia Entertainment – for its three players, helped facilitate the process. But there is no way for WarnerMedia to have lowered the price of the "Big Bang" because profit participants would have quickly gone to court screaming about claims involving third parties.
In the end, industry sources said WarnerMedia had committed about $ 600 million over five years for HBO Max and TBS Big Bang rights. The show is appreciated because it has not yet been exploited in the streaming market, but there is no certainty that it will be an immeasurable success as a streaming broadcast. However, the show has an excellent reputation as a pillar of TBS programming since the show debuted as syndication on TBS and local TV channels in 2011.
The announcement of Tuesday's "Big Bang" follows other gigantic offers on contemporary classic comedies. Earlier this week, Netflix committed approximately $ 500 million for the "Seinfeld" archive. HBO Max has committed approximately $ 425 million to recover Netflix's "Friends" online broadcast rights. The nascent Peacock service from NBCUniversal, which is also set to bend next spring, has pledged $ 500 million to relocate Netflix's "The Office" in 2021.
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