The legendary sitcom ‘Seinfeld‘ is recently all over the news as the official streaming rights of the series have been handed over to Netflix. Larry David and Jerry Seinfeld, the two co-creators of the series, have bagged a massive piece of the estimated sum that was made during the shift of hands.
The negotiation done against the streaming rights of 180 episodes has been expected to be more than $500 million (as per the reports of the insiders). David and Seinfeld, each share a nine-digit figure from the deal made. According to the sources, one of them secured something around $100-$125, while the other had his numbers to be even higher. Apart from these two, Warner Bros. TV is also getting a significant share of the amount, almost around $100 million. Not to forget, Sony Pictures TV is as well getting a considerable part. The supporting companies of Castle Rock Entertainment, which includes Martin Shafer, Rob Reiner, Andrew Scheinman, Glen Padnick and Alan Horn are acquiring a substantial profit as well. The remaining figure is to be distributed among the cast and crew of ‘Seinfeld.’
‘Seinfeld’ was a member of the Hulu family from 2015. The contract with Netflix is coming into play from 2021 when the earlier one with ends with Hulu. If you consider that Netflix deal was the most significant crack for ‘Seinfeld,’ then hold yourself right therefor we have something more for you in-store. The Viacom signed an agreement for cable syndication rights against a small part of ‘Seinfeld.’ According to the sources, this deal offers “more than $250,000 per episode” from Viacom’s ends.
As Netflix is about to give away the right of ‘Friends’ and ‘The Office’ by 2020-2021, the inclusion of ‘Seinfeld’s’ in its list can prove to be beneficial for the media service provider.