Friends fans are rejoicing at the news that the beloved ’90s sitcom will, after much negotiation, be kept on Netflix for another year!
But the show’s return comes at a hefty price… literally. Netflix is reportedly paying Warner Brothers $100 million for the rights to air the show, a $70 million increase over what they paid last year.
Netflix will pay around $100 million to continue licensing “Friends” from its owner, WarnerMedia. It's a significant jump from the $30 million a year it previously paid to stream the show. https://t.co/1QhIHGmLZ3— The New York Times (@nytimes) December 5, 2018
$100 million for the streaming rights to a TV show that last aired 14 years ago. Rights that won't be exclusive after 1 year.— Ryan McCarthy (@mccarthyryanj) December 4, 2018
Strange, strange times in media...https://t.co/3OpstVL4TW
Some believe inflated prices like these will become more and more predominant as viewers continue to drift towards streaming services like Netflix and Hulu.
also a reminder of what a unicorn Friends is, with a rewatchability factor of infinity #illbethereforyou 🎵— Youngme Moon (@YoungmeMoon) December 4, 2018
Netflix is investing $100m to stream 'Friends' for a year. Or to put this in context, the online video giant just allocated the cost of an airline for reruns of a 24-year old show. Yep. That just happened. https://t.co/kzHqwbLWin— Sam Blatteis (@SamBlatteis) December 5, 2018
Netflix is infamous for never releasing any of its viewership numbers, which can often make business moves like this seem… well… insane.
But one assumes the company must have a reason for making such a large investment in a program.
The decision to renew Friends at such a high price also flies in the face of Netflix’s recent efforts to move more of their studio in-house.
Another shot in the coming streaming wars battle. Netflix will lose studio content (hence why they are making SO MUCH new content), but for now are happy to pay boatloads to keep it. Netflix Will Keep ‘Friends’ Through Next Year in a $100 Million Agreement https://t.co/rZFVjeoB1T— Jonathan Rogers (@jonarogers) December 4, 2018
"Well, we just spent $100 million on another year of Friends. What movies can we still afford?" https://t.co/OGTxwIdq41— Dave Itzkoff (@ditzkoff) December 4, 2018
Twitter users were shocked at the amount of money Netflix was prepared to spend on Friends.
There's no way to read this headline without using Dr. Evil's. voice. https://t.co/TI3bMqEQrr— Paul Richardson (@RunningJoke) December 4, 2018
Could have at least thrown in the episodes of Joey for free https://t.co/PDLrUU7D8p— Alastair Coote (@_alastair) December 4, 2018
My Netflix rate better not be going up, especially for a show that is on regular TV 24/7— Greg Pattenaude (@GregNugget) December 5, 2018
Others thought it was the only logical course of action!
worth it. https://t.co/dGvG7BfbLM— Christopher Harper (@ChrisHarperDT) December 5, 2018
You know it is! pic.twitter.com/uBqmKRyriq— 🎄❄️ (@LeslieeKnopeee) December 5, 2018
There were also, shockingly, some Twitter users who believed $100 million for a 24-year-old show was a waste of money?
This is sad and a whopping waste of money imho— Tee Mack (@tmack894) December 4, 2018
But for Friends fans, Netflix has just made a great move. Netflix will be glad to welcome them all back for another year!