NBCUniversal is reportedly paying half a billion dollars to stream The Office
The Dunder Mifflin Scranton branch will soon have a new streaming home thanks to a deal reportedly to the tune of half a billion dollars.
Netflix on Tuesday announced that The Office is set to leave its platform in January 2021, giving subscribers just about a year-and-a-half more to stream the wildly popular sitcom. While the company only releases limited viewing figures, NBC chairman Robert Greenblatt told Vulture last year he believes The Office is Netflix's most popular acquired show.
But now, it's headed to NBCUniversal's upcoming ad-supported streaming service, which launches next year. The Hollywood Reporter reports that Universal Television held an auction for streaming rights to The Office, which Netflix participated in. NBCUniversal offered $100 million a year for five years, the report says, which beat Netflix's bid.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
So will NBC's bet that The Office will bolster its streaming platform pay off? The Verge reporter Julia Alexander suggests not, speculating on Twitter, "Office is great, but not a show that leads subscriptions. People will just pirate or buy a boxset for $60." Alexander goes on to write that "The Office and Friends were never primary reasons to get Netflix; but we enjoyed it all being packaged in ... NBCU and WarnerMedia are going to need big pulls, which they don't really have, to compete."
WarnerMedia is soon launching a streaming service as well, which is expected to eventually be the exclusive streaming home of Friends, although Netflix recently paid $100 million to keep streaming it for another year.
But Netflix is hoping its slate of original content will make up for the loss of shows like The Office, and it just so happens it has a show in the works from the co-creator of The Office starring Steve Carell called Space Force. Shortly after the Office announcement on Tuesday, Netflix re-upped the trailer for Space Force on Twitter, writing, "just leaving this here for totally no reason."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published