Netflix has to pay more than Dunder Mifflin’s valuation to keep ‘The Office’ on its platform
Original content isn’t the only thing Netflix is spending cash on these days: After the public threw a fit, Netflix went back on its decision not to renew the hit NBC sitcom Friends with an exclusive, one-year, $100m deal.
Now, the floodgates have opened, and as the US version of The Office nears a contract renewal with the streaming service, Netflix may have to pay even more to keep the people person’s paper people.
Jim, Pam, thank you ma’am
The Office captured the hearts of America long before it appeared on Netflix’s platform in 2011, but streaming has blasted the show to new heights.
It’s reportedly the most-watched show on Netflix with 7 different seasons of Michael Scott antics making up its top 10 most-downloaded content list.
NBC Chairman Bob Greenblatt told Vulture, “If we knew how popular it was going to be before [Netflix] made the deal, we would have asked for more money!”
This time, NBC has leverage
Next year, the owner of the show, NBCUniversal, will launch a new streaming service (unlike Disney, NBC said it still plans to license its content to other providers on a show-by-show basis).
But, with the new streaming venture, NBC’s own platform will enter the fold, which could considerably raise the price for popular NBC shows.
Netflix owns the exclusive streaming rights to all 9 seasons of The Office through 2020, but then… it’s gut-check time.