While Netflix would lose the rights on "Friends" from next year and the American version of "The Office" from 2021, the streaming giant acquired the global rights for 'Seinfeld'
New York: Streaming giant Netflix, on Monday (September 16) said that it acquired the global rights for popular American sitcom Seinfeld from 2021. It's a feather in its cap while the battle among online video platforms for coveted content heats up.
However, the company did not reveal the value of the transaction.
But the move was a bit of a rebound for Netflix, which would lose the rights to Friends from next year and the American version of The Office from 2021. These were the two most-watched series it had on offer.
The digital broadcast rights to Seinfeld have been held by Hulu, a Disney subsidiary, since 2015.
NBC Universal paid $ 500 million over five years to get The Office, and Warner Media shelled out $ 425 million, also over five years, to acquire Friends for its new HBO Max platform.
Classic television series have become a hot commodity in the escalating battle for streaming supremacy.
The current major players like Netflix and Amazon are keeping an eye on Apple and Disney, which will launch later this year, and then NBC Universal and Warner Media in 2020.
Sony Pictures Television, which controls the distribution of Seinfeld, launched its platform, PlayStation Vue, but it never really took off.
Beyond The Office and Friends, Netflix will lose the rights to the catalogue of Star Wars, Pixar and Marvel superhero films, which belong to Disney.
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Last Updated 17, Sep 2019, 2:38 PM