After The Loss of 'Friends' & 'The Office', Netflix Nabs 'Seinfeld' for $500M

It appeared as if Netflix was only losing out on current deals that involved two iconic comedies, F.R.I.E.N.D.S, and The Office. As known, both these shows have been nabbed by HBO Max and NBC's streaming platform in the bidding war that involves big money.

It came as a huge surprise that streaming giant Netflix was unable to stamp the deal and not outbid its competitors for the exclusive streaming rights of these shows. But, guess what? It may have these two but has managed to strike a multi-million dollar deal for yet another iconic sitcom in the form of Seinfeld.

No secret to anyone, as to how the show is one of the most legendary ones and still remembered by many. And hence, according to reports, Netflix has landed worldwide rights to the iconic sitcom in a five-year deal with distributor Sony. The show will move from current rightsholder Hulu when its deal is up in 2021. Sources tell The Hollywood Reporter that the new Seinfeld streaming deal is worth more than $500 million and covers global rights.

First reported by the L.A. Times, the deal will bring Seinfeld's global streaming rights under one roof for the first time. Hulu's current six-year, $130 million deal is for domestic rights only; Amazon has held rights in most other territories around the world. 

"Seinfeld is the television comedy that all television comedy is measured against," said Netflix chief content officer Ted Sarandos. "It is as fresh and funny as ever, and will be available to the world in 4K for the first time. We can’t wait to welcome Jerry, Elaine, George and Kramer to their new global home on Netflix."

Added Sony Pictures Television chairman Mike Hopkins, "Seinfeld is a one-of-a-kind, iconic, culture-defining show. Now, 30 years after its premiere, Seinfeld remains center stage. We’re thrilled to be partnering with Netflix to bring this beloved series to current fans and new audiences around the globe."

Netflix is also home to Jerry Seinfeld's short-form series Comedians in Cars Getting Coffee and stand-up special Jerry Before Seinfeld.