Seinfeld Jumps to Netflix Following Loss of The Office and Friends

Seinfeld is heading to Netflix in 2021

Seinfeld is heading to Netflix in 2021

The Los Angeles Times reports that the streaming service struck a five-year deal with Sony Pictures Television that will be formally announced on Monday.

Hulu, which is majority owned by Walt Disney Co., has the current domestic streaming rights to "Seinfeld, " paying $150 million annually in a five-year deal that expires in 2021. This will bump current online distributors Hulu (USA) and Amazon (most other streamed regions). "It is as fresh and amusing as ever and will be available to the world in 4K for the first time". "It is as fresh and amusing as ever and will be available to the world in 4K for the first time". It will start streaming on NBCUniversal's new platform next year. The company announced in June that "The Office" would be leaving Netflix for NBCUniversal's upcoming streaming service in 2021. It's driven huge investment in original programming-$15 billion this year-and, at least in this case, a particularly aggressive approach to landing a legacy show with proven value in the streaming marketplace.

The ownership of "Seinfeld", which was produced by the defunct studio Castle Rock, will be divvied up among several entities, including WarnerMedia, CBS, Seinfeld and his co-creator, Larry David. This new Netflix's deal likely adds up to more money based exclusively on its global reach, but neither Sony, Netflix, or Castle Rock Entertainment disclosed any terms.

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The show can now be found on cable on TBS, online on Hulu and those DVD box sets you haven't touched in years.

The top three streamers, Netflix, Hulu and Amazon, used to control the vast share of streamed sitcoms, with Netflix spending vast sums of money to make it the home of binge-TV viewing.

This deal is different than the deals for "The Office" or "Friends" because it gives Netflix global rights. But the company will continue to license shows from outside suppliers when it's seen as making sense for its business.

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