Netflix Acquires Worldwide Streaming Rights of "Seinfeld & # 39;

Netflix has fought back in the battle of sitcoms on popular networks by obtaining the worldwide streaming rights of "Seinfeld".

The agreement with Sony Pictures Television, which controls the distribution of "Seinfeld", will be announced Monday, according to the two companies.

Netflix will offer the 180 episodes of "Seinfeld" in the United States and most of its 151 million subscribers worldwide when the five-year pact comes into effect in 2021.

"Seinfeld" is a one-of-a-kind, iconic show that defines culture, "Sony Pictures Television President Mike Hopkins said in a statement in the Los Angeles Times." Now, 30 years after its inception, ' Seinfeld 'remains at the center of the stage and we are excited to partner with Netflix to present this much-loved series to current fans and new audiences around the world. "

Landing "Seinfeld" is an important return statement for Netflix, which recently lost the streaming rights to "The Office" and "Friends" of media conglomerates owning these shows. "The Office" will be part of NBCUniversal's new streaming service, while "Friends" will be featured on WarnerMedia's next HBO Max platform.

The terms of the deal have not been disclosed, but as the rights are distributed worldwide, Netflix has paid much more than the $ 500 million paid by NBCUniversal for "The Office" and the $ 425 million that WarnerMedia disbursed for "Friends", people familiar with the deal. I said. These two five-year contracts related only to streaming rights in the United States.

Hulu, majority-owned by Walt Disney Co., holds the current national broadcast rights of "Seinfeld", which earns $ 150 million a year under a five-year contract expiring in 2021. Amazon had broadcast rights in most foreign territories. will be recovered by Netfilx.

"Seinfeld is the televised comedy against which all television comedy is measured," Ted Sarandos, content manager at Netflix, said in a statement. "It's as fresh and fun as ever and will be available worldwide in 4K for the first time."

Over the next five-year license term, Netflix has dominated the offerings of Hulu, Amazon, WarnerMedia, NBCUniversal and Viacom, which has controlled the CBS All Access streaming service since its merger with CBS Corp. familiar with discussions and unauthorized. comment.

This decision was a blow for NBCUniversal, which had a long-standing relationship with "Seinfeld" and could have used the iconic show to attract viewers to its next streaming service.

But Netflix would have been particularly aggressive in its pursuit of "Seinfeld", which is part of a handful of long-lasting series of comedies that appeal to several generations of viewers. "Seinfeld", starring comedian Jerry Seinfeld, who lives his single life in Manhattan with his solipsian friends, aired from 1989 to 1998 on NBC and ended his original series while still ranking first. prime time, according to Nielsen. .

The other mainstream sitcoms available on the steam market – Warner Bros.'s "The Big Bang Theory" and "Two and Half Men". Televison – should both go to WarnerMedia's parent company, HBO Max. Some TV producers believe that it has become futile for Netflix to make an offer against companies that claim the rights to their own broadcasts and that essentially pay themselves.

The property of "Seinfeld", produced by the late Castle Rock studio, is split between several entities, including WarnerMedia, CBS, Seinfeld and co-creator Larry David. All will share the Netflix business revenue after Sony receives a significant percentage of the show's distributor.

Even 20 years after NBC's "Seinfeld", rebroadcasts continue to be a popular attraction on local TV and TBS cable networks and have generated billions of dollars in revenue worldwide.

Neflix is ​​already the streaming venue of Seinfeld's current series, Comedians in Cars Getting Coffee, and its special comedy programs. The relationship was not a determining factor for "Seinfeld" to go to service, sources said.

In his recent call for investors, Netflix executives downplayed the importance of losing "Friends" and "The Office." The Los Gatos-based company said it should disengage itself from its external program providers – a major reason why it has invested $ 12 billion in content in 2018 and is investing $ 15 billion this year. year.

The "Seinfeld" agreement should not be seen as a break with this strategy, according to an officer familiar with the matter. However, the company will continue to issue emission licenses from outside suppliers when it seems appropriate.