Amazon And Hulu Duke It Out For $100 Million ‘Seinfeld’ Streaming Exclusive
Get ready to relive hysterical moments from the popular 1990s NBC sitcom Seinfeld. According to multiple reports, Sony Pictures Television is in advanced talks to sell the rights to stream reruns of the popular show to a streaming video service, though it's not yet clear which one will win the bidding war. So far it appears to be a three-way race between Amazon, Hulu, and Yahoo.
What about Netflix? Citing a "person familiar with the matter," The Wall Street Journal says Netflix took a hard look at the show last year and decided not to pursue streaming rights, likely because of the asking price. Netflix has already paid Warner Bros. more than $500,000 per episode for Friends in a deal that's good for four years, and it's reported that Sony is seeking an even higher pile of cash than that.
There are 180 Seinfeld episodes in all, so even at $500,000 per episode, Sony would pocket a cool $90 million (most of which would go to Warner Bros., which acquired Seinfeld producer Castle Rock Entertainment as part of its 1996 purchase of Turner Broadcasting System). However, it's more likely the deal will be north of $100 million, especially with multiple parties interested in the show's streaming rights.
Paying such a hefty price for a show that's been airing on cable channel TBS for several years is a bit of a gamble, though Hulu, Amazon, and Yahoo all believe it can be a simultaneous hit on the web. And they're probably right, considering that the cord cutting movement is growing stronger with each passing day.
Through nine seasons spanning 1989 to 1998, Seinfeld popularized several catchphrases such as "Yada, yada, yada" and "No soup for you!" It's been described as "a show about nothing."
What about Netflix? Citing a "person familiar with the matter," The Wall Street Journal says Netflix took a hard look at the show last year and decided not to pursue streaming rights, likely because of the asking price. Netflix has already paid Warner Bros. more than $500,000 per episode for Friends in a deal that's good for four years, and it's reported that Sony is seeking an even higher pile of cash than that.
There are 180 Seinfeld episodes in all, so even at $500,000 per episode, Sony would pocket a cool $90 million (most of which would go to Warner Bros., which acquired Seinfeld producer Castle Rock Entertainment as part of its 1996 purchase of Turner Broadcasting System). However, it's more likely the deal will be north of $100 million, especially with multiple parties interested in the show's streaming rights.
Paying such a hefty price for a show that's been airing on cable channel TBS for several years is a bit of a gamble, though Hulu, Amazon, and Yahoo all believe it can be a simultaneous hit on the web. And they're probably right, considering that the cord cutting movement is growing stronger with each passing day.
Through nine seasons spanning 1989 to 1998, Seinfeld popularized several catchphrases such as "Yada, yada, yada" and "No soup for you!" It's been described as "a show about nothing."
