It is the ultimate show about nothing. But it sure don’t cost nothing.

The Los Angeles Times reports that Seinfeld is preparing to move streaming sites from Hulu to Netflix. Starting in 2021, the site will be the global home for the classic ’90s comedy. (Previously, Amazon Prime had the international rights for the show.)

While the terms of the deal were not announced, the Times says you can be sure, given the going rate for these premium syndicated sitcoms on the streaming market, that it was A Lot:

Terms of the transaction were not disclosed, but since the rights are for worldwide distribution, Netflix paid far more than the $500 million NBCUniversal paid for “The Office,” and the $425 million WarnerMedia shelled out for “Friends,” people familiar with the deal said. Both of those five-year deals were for streaming rights in the U.S. only.

Netflix previously held the streaming rights to both of the shows, but then lost them in recent negotiations to new competitors in the online viewing space, NBCUniversal’s upcoming (and unnamed) streaming service, and HBO Max, respectively. While none of its competitors can touch Netflix in terms of sheer volume of original content, the vast sums of money paid for these old, endlessly repeated sitcoms tell you just how valuable proven hits remain. All the millions spent on original content won’t guarantee you even one Seinfeld or Friends. Netflix will now control Seinfeld for five years after it debuts on the service in 2021.

Gallery — The Best TV Shows on Netflix You’re Not Watching:


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