“Seinfeld is a one-of-a-kind, iconic, culture-defining show,” Mike Hopkins, chairman of Sony Pictures Television, said in a statement to the Los Angeles Times. “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.”
Acquiring the rights to a show as popular as Seinfeld isn’t cheap. Hulu, primarily owned by Disney, currently holds the rights to exclusively stream Seinfeld in the U.S. Hulu scored a five-year deal to stream the series, paying $150 million a year to do so. That deal expires in 2021. It isn’t yet known how much Netflix will pay to stream the sitcom, but it’s safe to say that figure could near $1 billion.
“Seinfeld is the television comedy that all television comedy is measured against,” Netflix’s chief content officer Ted Sarandos said in a statement about the new deal. “It is as fresh and funny as ever and will be available to the world in 4K for the first time.”
The deal reached with Netflix and Sony Pictures Television—who controls distributions rights for Seinfeld–secures the sitcom to stream exclusively on Netflix, both domestically and in foreign markets, for five years starting in 2021.
Netflix lost the streaming rights to The Office, one of the platform’s most-watched shows, to NBCUniversal earlier this year. It will start streaming on NBCUniversal’s new platform next year. Additionally, Netflix lost the streaming rights to Friends, another of their most-watched shows, which will move to WarnerMedia’s new streaming platform, HBO Max.
Seinfeld, created by Jerry Seinfeld and Larry David, ran on NBC for nine seasons and won multiple Emmys, including for Outstanding Comedy Series in 1993. In addition to streaming, it lives on in syndication on numerous networks.
