Netflix has acquired the global rights to the classic '90s sitcom Seinfeld amid growing competition in streaming services and after losing the streaming rights to other iconic TV shows.
All 180 'Seinfeld' Episodes For 151 Million Netflix Subscribers Worldwide
The platform announced on Monday that it has acquired the global rights to the show. All 180 episodes of the comedy series will be available to stream in about two years as part of a deal between Netflix and Sony Pictures Television, which controls the distribution of the iconic TV show.
Netflix said it will offer all Seinfeld episodes not just to its U.S. subscribers but also to all its 151 million subscribers worldwide once the five-year deal takes effect in 2021.
Classic '90s Comedy Show
It has been more than two decades since the airing of the final episode of Seinfeld, but the show remained popular partly because of a long run in syndication on TBS.
Reruns of TV sitcoms continue to generate money as the younger generations who were not yet born during the original release of the show discover them.
"Now, 30 years after its premiere, Seinfeld remains center stage," Sony Pictures Television chairman Mike Hopkins said in a statement. "We're thrilled to be partnering with Netflix to bring this beloved series to current fans and new audiences around the globe."
Battle Of Streaming Services
Netflix acquired the rights to the show after losing the streaming rights to The Office And Friends. The Office will be streamed by NBCUniversal's new streaming service, and Friends will stream on WarnerMedia's upcoming HBO Max platform.
Hulu had a $150 million deal to stream Seinfeld, which will expire in 2021. Netflix topped the bids of Hulu, Amazon, WarnerMedia, NBCUniversal, and Viacom to get the rights for the show's next five-year licensing period. It reportedly paid more than $500 million to stream Seinfeld.