The deal between Netflix and NBC cult favorite is going to expire in 2020 and after that, the streaming of it will expire. Then NBC’s Universal forthcoming direct to consumer platform will take over the streaming on Netflix. It will stream exclusively for all nine seasons of the comedy coming in 2021. NBCU’s streamilusive domestic streaming rights to The Office for five years, paying $100 million per year to stream the series and outbidding Netflix for the rights. Producers Universal Television held the auction which describes arm length in the process. This in a way means that the Producer Universal Television like sibling company NBCU streaming and Netflix. It was kept far apart in a bid to ensure a fair auction. The profit participants got the best deal for the series.
Universal’s Deal Regarding The Office
This has been known that Universal was shopping The Office and had considered numerous deals including sharing it with Netflix in a non-exclusive pact with some rights to take it back the next year. The Office has become a staple of pop culture and it has also become a rare gem whose relevance continues to grow at a time when all the fans have more choices of entertainment choices than the ever before. Chairman of NBC Universal DTC and also the digital enterprises said it on Tuesday that it is becoming hard to wait for the welcome of the gang from Dunder Mufflin to NBC’s Universal new streaming service. This will also control new domestic streaming rights for The Office. On the other hand, all the international deals and streaming will remain in the same way as before.
Expectations from the Deal
The move was expected as multiple media Behemoths including NBCU Universal Comcast, Warner Bros., And Disney are launching streaming services of their own and needs library programming to their inventory.
The move has also come up with the financial loss as NBCU could have opted to take a page for Warner Bros. And license The Office to Netflix for a sizeable fee. Warners last year already added a year to Netflix’s deal. The deal was for the mega-hit friends in a pact worth $100 million. This deal will keep The Friends on Netflix till the end of the year in 2019. Still, it has expectations to stop streaming after the deal expires.
About The Office
The Office is a universal streaming TV comedy starring Steve Carell, John Krasinski, and Mindy Kaling and from executive producer Greg Daniels, NBCU says that the series is a no.1 show across all the subscription show demand. It is streamed for more than 52 billion minutes. UTV President says that they have found The Office as one of their prized series and we are also thrilled as it has found an exciting new home where the generations will pass on and will continue to discover and rediscover.
Moments in The Office
Michael Scott’s most cringe-worthy moments, Jim and Pam’s will-they-or-won’t-they. Moreover, the incredible quirky ensemble that has made each episode a masterclass in comedy. This was said by UTV president Pearlena Igbokwe.
NBCUniversal’s ad-supported streaming service will be launched in 2020. This will feature TV and film franchises from within the company as well as homegrown original programming and content from outside studios.