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The big business of classic TV for streaming giants

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As online video platforms jockey for position with new rivals for audience share, classic television series are commanding hefty sums. FMTNews

“It’s a feeding frenzy right now,” says Dominic Caristi, a professor of communications at Ball State University.

From 2020, Netflix also must give up “Friends,” which will move over to WarnerMedia’s HBO Max platform – at a steep price of US$425 million for five years. “The shows that have been here longer like ‘Friends’ have a cumulative audience – people who saw them in the ’90s when it first aired, the ones who saw the reruns, the people who are watching them now. And so they’re able to share that experience with more people.”Starting in November, Apple and Disney will launch their own TV ventures. WarnerMedia and NBCUniversal will follow suit over the next year.

“I think Netflix is going to feel the effect,” Caristi says. “They’ll still be the No 1, at least for a while, but they’ll lose some market share.”

 

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