Netflix has simply scored a significant content material deal that would assist it to stem the lack of subscribers as competitors amongst streamers heats up. The corporate introduced it has acquired the worldwide streaming rights to the favored sitcom “Seinfeld,” which can carry all 180 episodes of the Emmy winner to the Netflix subscribers beginning in 2021.
The timing of this addition is important for Netflix, as “Seinfeld” will go to air the identical 12 months that the streamer loses one in every of its most-watched items of content material: re-runs of “The Workplace.” It is going to additionally observe Netflix’s lack of one other iconic sitcom — when “Associates” exits the service in 2020.
Regardless of the age of the content material in query, these are nonetheless extremely costly offers due to the evergreen nature of the reveals and their potential to succeed in new followers who weren’t sufficiently old to have watched the reveals after they initially aired.
Past that, these re-runs have large audiences. For instance, Nielsen discovered that “The Workplace” is the most-watched present on Netflix, regardless of the streamer’s multi-billion greenback investments in its personal unique content material which is much extra closely promoted throughout its platform.
And that unique content material isn’t performing properly, as of late, making it much more important for Netflix to carry on to a minimum of a few of its traditional library content material. Final quarter, the corporate misplaced U.S. subscribers for the primary time since 2011. The corporate didn’t cite elevated competitors as an element, as lots of its challengers — like Disney+, Apple TV+, and HBO Max — have but to launch. As a substitute, it pointed to cost hikes and a programming slate that failed to draw subscribers.
In the meantime, Netflix was not too long ago outbid for rights to “The Workplace,” as NBCU paid $500 million to tug the hit from Netflix when its deal ends in 2021. Netflix additionally misplaced “Associates” to WarnerMedia, which paid $425 million to carry the traditional present to its new service HBO Max for 5 years, beginning in 2020.
Given the “Seinfeld” cope with Sony Footage Tv is for worldwide distribution to Netflix’s roughly 150 million subscribers, its worth ought to be in that very same ballpark if not increased. (Netflix isn’t discussing deal phrases).
“Seinfeld is the tv comedy that each one tv comedy is measured in opposition to. It’s as recent and humorous as ever and can be obtainable to the world in 4K for the primary time,” stated Ted Sarandos, Chief Content material Officer for Netflix, in an announcement. “We are able to’t wait to welcome Jerry, Elaine, George and Kramer to their new world residence on Netflix.”
Traditional sitcoms aren’t the one issues Netflix has been dropping, as of late.
It additionally this 12 months exited the Marvel superhero enterprise with the cancellations of “Jessica Jones” and “The Punisher,” after having already axed “Iron Fist,” “Luke Cage” and “Daredevil,” forward of the launch of Disney+. And it has canceled a lot of different under-performing collection, together with “The OA,” “Tuca & Bertie,” “Designated Survivor,” “She’s Gotta Have It,” and its remake of “One Day at a Time.”