Netflix is about to get a big property after losing Friends and The Office. It has been announced that Netflix has struck a deal with distributor Sony Pictures Television to become the global exclusive streaming home for the entire Seinfeld collection beginning in 2021, when the series’ domestic pact with Hulu expires, for five years.
Netflix emerged as the main contender for the streaming rights for the series and considering they lost two classic NBC comedy series to other streamers, getting Seinfeld is a big get for Netflix. This is the first time Seinfeld will be available on Netflix and the first time that all 180 episodes will be on one service globally and in 4K. Seinfeld made its streaming debut with the Hulu deal. Internationally, it is streaming on Amazon in a number of territories; that will all be consolidated on Netflix under the new deal.
Netflix had this to say about the Seinfeld deal:
“Seinfeld is the television comedy that all television comedy is measured against. 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.”
Seinfeld is tied up until 2021 in its exclusive SVOD deal at Hulu. In the previous negotiations, Sony synched up the off-network cable deal for Seinfeld at TBS with the streaming pact at Hulu, so all rights become available at the same time. Sony TV reportedly pitched the show to multiple streamers, including HBO Max and Netflix. There was no asking price that the distribution company was throwing around but they were said to be targeting a deal of a size similar to that for fellow 1990s Must See TV tentpole Friends. That would be a major premium over the reported $130+ million a year Seinfeld‘s current Hulu deal pays.
Hulu was not looking to step up in a major way to keep Seinfeld. The streaming platform is now controlled by Disney, and Hulu is getting into a slew of binge-friendly shows from across the company, like the 20th Century Fox TV’s Family Guy. Netflix was also an obvious choice as they already have a $100-million deal with Jerry Seinfeld for his show, Comedians In Cars Getting Coffee, and two-stand-up specials.
