Seinfeld is officially coming to Netflix! The streaming company announced all 180 episodes of the classic NBC sitcom will be added to their catalogue in 2021. After striking a deal with Sony Pictures Television, Netflix will hold the global streaming rights to Seinfeld for five years.
According to the Los Angeles Times, terms of the deal were not disclosed, however, there's speculation Netflix paid for more than the $25 million WarnerMedia paid to take the streaming rights for Friends back for their own streaming platform. It's also rumored the price of Seinfeld exceeded the $500 million NBCUniversal paid to secure the streaming rights to The Office for their upcoming streaming platform, as well.
Seinfeld is currently available for streaming in the U.S. on Hulu, while Amazon Prime holds the international rights. Hulu acquired the streaming rights for Seinfeld back in 2015 for $130 million. As what's being called the "streaming wars" heating up, it appears Netflix is trying to keep their subscribers invested by securing beloved shows like Seinfeld, especially after losing their long-running hold on Friends and The Office.
With the upcoming launch of Disney+, as well as HBOMax and other cable network's individual streaming services, it will be interesting to see if securing shows like Seinfeld keeps Netflix in the game. The original streaming platform has seen weak subscriber growth recently, according to CNBC. We'll just have to wait until 2021 to see if Seinfeld brings a subscriber boost to Netflix.