Streaming is the future of TV. But for now, a big part of the streaming business revolves around old TV shows. Streaming giant, Netflix recently announced it would be the exclusive streaming home for Seinfeld starting in 2021. Given that Seinfeld is one of the most popular shows in the history of television, the company had to pay a pretty penny for the rights.
Seinfeld is regarded as one of the greatest and most influential sitcoms of all time, often listed as the best series of the ‘90s. Netflix reportedly paid over $500 million for global streaming rights. The streaming giant, with the other big comedy shows out of its catalogue; the platform needed a big title that would make users stay – and what better than Seinfeld.
So the cost for Seinfeld is going to be a significant number, which will undoubtedly grab your attention when it comes out, sooner or later. But the bigger story is that Netflix is buying someone else’s high-profile program instead of seeing high-profile shows that it currently streams leaving nothing for its competitors.
Even if you don’t pay attention to the business of the streaming wars, you may have some idea that Netflix Is Losing Its Shows To Disney And Other People because that’s true: Would-be Netflix competitors including Disney, Comcast’s NBC, and AT&T’s WarnerMedia are taking programming that used to run on Netflix and bringing them back to their own, yet-to-launch streaming services.
Although Netflix still has a significant number of films and TV shows, including original content, the departure of Friends and The Office was a big shake-up, and acquiring Seinfeld was a necessary move that the company was undoubtedly ready to make no matter the price.