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 now available to stream domestically on Hulu, the majority of which is owned by Disney, and in most worldwide markets on Amazon Prime Video. 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.
At the time of the Hulu agreement, Netflix expressed interest but instead locked in Friends. Legacy media companies like Disney and WarnerMedia, CNN's parent company, are pulling some of their most beloved shows from Netflix in an effort to draw subscribers to their own streaming services. The same thing goes for Seinfeld.
The "Seinfeld " deal should not be seen as a departure from that strategy, according to an executive familiar with the matter.
What's the deal with Netflix? That means newbies and diehard fans can be absorbed into the world of Seinfeld in one central location.
"Seinfeld is a one-of-a-kind, iconic, culture-defining show". "Now, 30 years after its premiere, "Seinfeld' remains center stage".
"Seinfeld is the television comedy that all television comedy is measured against", said Netflix chief content officer Ted Sarandos.
Ted Sarandos, Netflix's chief content officer, called the show "as fresh and amusing as ever" and announced that it would available in 4K for the first time. With Jerry Seinfeld, Elaine Benes, Cosmo Kramer and George Costanza, apparently.
Netflix has bought the global rights to show Seinfeld. Now, you'll only have to wait until 2021.