Netflix Lands Worldwide Rights To 'Seinfeld,' In Hopes The '90s Classic Can Replace 'The Office' & 'Friends'

First, it was “The Office.” Then came the news that “Friends” is leaving. And now, Netflix is looking at a future without its two biggest TV series. But hey, you can’t count the streaming service out just yet, thanks to the seemingly limitless bank account, as Netflix has just announced that it has secured the worldwide streaming rights to what might be the best sitcom of all time — “Seinfeld.”

The new deal allows Netflix to be the exclusive worldwide home to “Seinfeld” beginning in 2021 when the current deal with Hulu expires. The ‘90s series is expected to be the crown jewel of licensed content for the streaming service that is in desperate need of a big sitcom to replace the departures of the two aforementioned series.

READ MORE: WarnerMedia Gut Punches Netflix And Takes Back ‘Friends’ For Its New Streaming Service Titled HBO Max Coming In 2020

Ted Sarandos, Netflix’s chief content officer, said (via LA Times), “‘Seinfeld’ is the television comedy that all television comedy is measured against. It is as fresh and funny as ever and will be available to the world in 4K for the first time.”

“‘Seinfeld’ is a one-of-a-kind, iconic, culture-defining show,” Sony Pictures Television Chairman Mike Hopkins said. “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.”

The big question that has yet to be fully answered is how much Netflix had to shell out to buy the worldwide exclusive rights to the entire 180 episodes of “Seinfeld.” As the report mentions, Hulu was spending approximately $150 million per year for the rights just in the US. And before “Seinfeld,” Netflix had spent $500 million for the rights to “The Office” and WarnerMedia just spent $450 million for “Friends.” However, both of those deals are just for the US, as well.

So yeah, if we look at $500 million as the low-end, considering Netflix has secured the worldwide rights for “Seinfeld,” the sky’s the limit on what the streaming service might have actually paid for the series.

READ MORE: ‘The Office’ Is Leaving Netflix In 2021 & Heading To A NBCUniversal’s Streaming Service

And as mentioned above, Netflix is in serious need of a win, right now. Not only has the stock taken a hit due to the service not gaining subscribers as quickly as it has in the past, but the streaming service is also prepping for the end of 2019, which is set to bring the debuts of Disney+ and Apple TV+, further adding to the already ridiculous amount of competition. And add to that the fact that “The Office” and “Friends” are set to leave the service at the end of 2020, and you’re talking a Netflix that needed to throw down whatever amount of cash was needed to land the biggest TV show left — “Seinfeld.”

Will “Seinfeld” take off with younger audiences that missed out on the series’ original run? That’s what happened with “Friends” and “The Office,” making those shows more popular now than ever before. We’ll just have to wait and see.

One thing we know is that Jerry Seinfeld and Larry David just got paid…again.