22 October 2019

Streaming Rights For Reruns Skyrocketing > Old Sitcoms, Adult Animations + Raunchy Potty-Mouth Kids

ON THE AUCTION BLOCK: ready for more contents
"As many as a half-dozen companies are bidding for exclusive U.S. streaming rights to past episodes of the show, which has been available on Walt Disney Co.’s Hulu in recent years. Viacom and the show’s creators hope to secure a new deal by the end of 2019 and could decide on the winning bidder as soon as this weekend, said the people, who asked not to be identified because the negotiations are private . . ."
‘South Park’ Nears $500 Million Deal for U.S. Streaming Rights
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  • Edgy animated show is the latest TV show on the auction block
  • Comedy Central series currently streams on Hulu in the U.S.            

Excerpts are taken from Bloomberg News :
"The value of popular TV reruns has skyrocketed, fueled by new streaming platforms seeking programming that can lure subscribers and provide an edge over rivals.
Viacom and “South Park” creators Trey Parker and Matt Stone expect the multiyear deal to net more than double what Hulu paid in 2015.
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Parker and Stone have used their profit from “South Park” and their hit Broadway play “The Book of Mormon” to create and fund their own studio, which was valued at $300 million in 2013

. . . That value is about to go way up.
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That’s comparable to what Comcast Corp. paid to license “The Office” for its coming streaming service Peacock and what AT&T Inc. paid to grab “Friends” for HBO Max.
 
Both of those programs are on Netflix for now.

Netflix Inc. responded by paying more than $500 million for worldwide rights to “Seinfeld.”
 

> Netflix, Amazon.com Inc. and Hulu have previously shown an interest in adult animation -- though Netflix is now focused more on original series, such as “Big Mouth.”
(Netflix has dropped out of the bidding, according to one of the people.)
> Hulu, meanwhile, remains interested in keeping the show on its platform, though only if the price doesn’t go too high, one of the people said.
> CBS Corp., which is merging with Viacom, has its own streaming service that could be a home for the show. But that merger won’t close before the licensing deal does, and CBS doesn’t have the same resources on its own as most of the bidders.
> Peacock and HBO Max are rushing to build libraries of shows ahead of their debuts next year. They are announcing new licensing deals every few weeks and have been the most aggressive in bidding on library titles. Both are in the chase for “South Park,” the people said.
> One company that probably won’t be bidding is Apple Inc., the people said.
The tech giant has eschewed controversial programming that could damage its brand, and it’s wary of offending China, where it sells a lot of iPhones. “South Park” was just banned in China after an episode mocked the country’s censorship of Western movies and TV.
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The riches from the sale will be split between Viacom, Parker and Stone under a unique deal forged in 2007.
The creators and the media giant split all the digital rights 50-50 under a joint venture that covers streaming, mobile and games.
Netflix previously licensed “South Park” through a deal with Viacom, a transaction that paid out in the tens of millions.
Hulu snagged the rights in 2014 and reupped it a year later.
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