“The Office has become a staple of pop-culture and is a rare gem whose relevance continues to grow at a time when fans have more entertainment choices than ever before,” said Bonnie Hammer, chairman of NBCUniversal direct-to-consumer and digital enterprises, in a statement. “We can’t wait to welcome the gang from Dunder Mifflin to NBCUniversal’s new streaming service.”
NBCU’s multi-year, $100 million deal with Netflix to license the show expires at the end of 2020. NBCU plans to launch a new OTT platform next year, as well.
The Office accounted for 52 million viewing minutes on Netflix in 2018, The Wall Street Journal reported.
Netflix responded with this tweet:
The decision comes as NBCU, Disney and WarnerMedia pull back popular shows from Netflix, which has grown its market capitalization to more than $157 billion over the last decade largely on the backs of hit Hollywood content.
Disney said that it will take a $150 million first-year hit by holding back content from the major SVOD services as it launches Disney+.
In December, AT&T’s WarnerMedia agreed to take $100 million to keep another former NBC primetime comedy staple, Friends, on Netflix through 2019. But it’s widely expected that Friends will depart the SVOD giant soon, as well.
Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!
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