Jerry Seinfeld and Larry David are set to ‘make $100 million EACH’ in Netflix deal to buy streaming rights to their hit show Seinfeld
- Netflix revealed earlier this month it had acquired the global rights to the popular sitcom Seinfeld from 2021
- Seinfeld creators Jerry Seinfeld and Larry David are set to make $100 million from the deal, according to sources
- Netflix signed a reported $500 million deal to secure the online streaming rights to all 180 episodes
- Rival Hulu, a Disney subsidiary, has held the rights to the show since 2015
Seinfeld creators Jerry Seinfeld and Larry David will reportedly make $100 million each from their new Netflix deal.
The streaming giant revealed earlier this month it had acquired the global rights to the popular sitcom Seinfeld from 2021.
Sources told The Wrap that Seinfeld and David were set to make $100 million to $125 million each from the deal.
Representatives for both Seinfeld and David would not comment on the deal.
Seinfeld creators Jerry Seinfeld and Larry David will reportedly make $100 million each from the new Netflix deal
Netflix signed a reported $500 million deal with Sony Pictures Television, which controls the distribution of the show, to secure the online streaming rights to all 180 episodes of Seinfeld.
Rival Hulu, a Disney subsidiary, has held the rights since 2015 but that deal will end in two years.
Viacom Inc has bought the exclusive cable rights to Seinfeld.
The terms of the Sony deal involving Netflix and Viacom have not been disclosed.
Seinfeld, a show starring comedian Jerry Seinfeld playing a version of himself and often humorously described as a show about nothing, followed four self-absorbed friends in New York City.
It was a hit on the NBC broadcast network in the 1990s.
Seinfeld, a show starring comedian Jerry Seinfeld playing a version of himself and often humorously described as a show about nothing, followed four self-absorbed friends in New York City
News of the latest deal is a slight rebound for Netflix, which has lost the rights to Friends from next year and to the American version of The Office from 2021 – the two most-watched series it has on offer.
NBCUniversal paid $500 million over five years to get The Office and WarnerMedia 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 NBCUniversal and WarnerMedia in 2020.
Sony Pictures Television, which controls the distribution of Seinfeld, launched its own platform, PlayStation Vue, but it never really took off.
Beyond The Office and Friends, Netflix is also soon to lose the rights to the catalog of Star Wars, Pixar and Marvel superhero films, which belong to Disney.