In the ongoing Battle for streaming viewers among the streaming giants, Netflix bags rights of ‘Seinfeld’

One of the most popular TV shows of all time, ‘Seinfeld’ is about to come to Netflix just as soon as the deal kicks in by 2021. Having lost bid for other significant shows like ‘The Office’ to NBCUniversal’s streaming app that is about to be launched and ‘Friends’ to HBO max in 2020 for whose rights, a sum of $425 million was paid by Warner media; the leading streaming app, Netflix did not waste any time in announcing about the ‘Seinfeld’ deal’s news even though it might seem a bit premature right now.

Hulu had paid a sum somewhere between $160- $180 million in 2015 for US Seinfeld’s rights, for a five- year long deal, however; the price Netflix has paid to acquire the five- year deal has not been revealed by Netflix in its announcement. Reports suggest that Netflix has paid an amount over the $500 million that NBCUniversal has paid for the right of ‘The Office’.

While new competitors including AppleTV+ and Disney+ are entering the market this fall. Netflix has been busy spending billions in creating its original content which includes both movies and TV shows. The recent price hike by Netflix to $13 per month from $11 for its standard plan made it lose on US subscribers for the first time ever, as the company itself revealed in its quarter two results.

The streaming service has been spending huge figures to get classic TV shows’ rights for reruns along with working hard on its original content. Reports suggest that a sum of $100 million was paid by Netflix for renewing licensing for ‘Friends’ last December for a year, post which the show will go to HBO Max.

It will be very interesting to see whether like, ‘The Office’, will ‘Seinfeld’ will be able to earn Netflix similar viewership.

Chris Sokol

Consultant respiratory physician at DescriptionThe Perelman School of Medicine, commonly known as Penn Med, is the medical school of the University of Pennsylvania, Philadelphia, PA 19104, United States. Mail Me : Chrissokol@timestechpharma.com

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