Netflix paid $500 million for a show NBC made in the 1990s — and it’s still better than most Netflix originals

Netflix is home to a great many terrific comedies, movies and TV shows alike. That includes original series like Unbreakable Kimmy Schmidt, I Think You Should Leave, and Grace and Frankie, shows that are native to Netflix and you’ll never be able to get anywhere else. But none of those shows have become pop culture phenomenons. In the age of the streaming wars, where there are as many platforms as there are fans to watch, perhaps nothing can.

But streamers like Netflix can pilfer pop culture phenomena from the past. That’s what happened in 2021, when Netflix secured the rights to stream all 180 episodes of the classic NBC sitcom Seinfeld. It’s been a huge draw ever since, but it won’t be on Netflix forever.

Seinfeld still holds up

And then some

It seems almost patronizing to describe what Seinfeld is about, but we’ve got to start somewhere. The NBC show ran from 1989 to 1998 and became one of the most popular sitcoms in an era dominated by hugely popular sitcoms. Jerry (Jerry Seinfeld), George (Jason Alexander), Elaine (Julia Louis-Dreyfus), and Kramer (Michael Richards) produced too many iconic moments to count. There’s the reign of the Soup Nazi, the battle with the Bubble Boy, Elaine’s “Little Kicks” dance, celebrating Festivus with the Feats of Strength, Kramer losing the Contest, George suffering from shrinkage, Jerry wearing the Puffy Shirt, Susan dying from licking too many cheap wedding invitations…we could go on and on. Pick your favorites.

Seinfeld produced 180 episodes in all, so it was a huge coup when Netflix secured the streaming rights in 2019 to the tune of $500 million, taking it away from Hulu and beating out competitors like Amazon, Peacock, HBO Max, and CBS All Access. Since then, the show has been a consistent draw for Netflix.

You might not think that a show from the ’90s would be this popular, but it doesn’t pay to underestimate the draw of familiar comfort food. People like what they know, and a lot of Seinfeld’s most famous episodes and moments have become part of the wider culture. “Yada yada yada.” “Not that there’s anything wrong with that.” “These pretzels are making me thirsty.” Like I said, we could keep going. That gives the show brand recognition it’s nearly impossible to replicate in an era when people don’t watch TV like they used to. In the ’90s, there were simply fewer options for entertainment, and platforms like YouTube and TikTok weren’t around to distract people from their TVS. So of course sitcoms like Seinfeld and Friends and Frasier got massive penetration.

Although that could be selling Seinfeld a bit short. Even back then, it was the best of the major network sitcoms, and even though some things about it are now dated — it’s weird to drop in on a world without smartphones — the comedy is still sharp. Now and then, watching George quit his job in a huff, regret it, and then try to go back to work acting as if nothing happened is still funny.

The state of sitcoms in the age of streaming

Netflix needs Seinfeld more than the other way around

Netflix streaming Seinfeld isn’t just a win for the streaming service; it’s a necessity. In the 2010s, before companies like Disney and HBO and NBC and others all started their own streaming services, you could watch lots of great classic sitcoms on Netflix, including Friends, The Office, Frasier, and 30 Rock. It was an easy, one-stop spot.

Those times are over, which is terrible for ordinary people who just want to watch their favorite shows. Friends, one of the few ’90s sitcoms to really compete with Seinfeld when it comes to cultural impact, is on HBO Max, where it’s consistently one of the top draws. The Office, 30 Rock, Parks and Recreation and others are all on Peacock. The Simpsons is on Disney+, and Frasier is on Hulu (you can also stream big chunks of it on free streaming services like Pluto TV and Roku, which have tons of great free content if you know what you’re looking for).

So Netflix didn’t spent $500 million on Seinfeld out of the goodness of its heart; it needs at least one major comfort food sitcom in its library if it’s going to keep people from jumping ship. But that may just be a stop-gap measure.

Seinfeld is leaving Netflix

Unless Netflix does something about it

Seinfeld landed on Netflix on October 1, 2021. The deal will keep it there for five years, meaning that it could leave the platform as early as October 1, 2026.

This doesn’t necessarily mean that the show will actually leave, since Netflix knows how valuable it is and will surely do everything it can to keep it around, but if you want to revive the good times — or if you’ve somehow never seen Seinfeld and want to see what all the fuss was about — time could be running out. Popular shows and movies do leave regularly Netflix, with Netflix always scramling to replace them with something equally enticing. But what could replace a show like Seinfeld?

The irreplaceability of Seinfeld

And that’s ultimately why Seinfeld outstrips so many Netflix original comedies; it’s not necessarily than Seinfeld is sharper and funnier than a lot of the original stuff that Netflix makes (although it definitely can be), it’s that the show has a legacy nothing else on the platform does.

So will it leave later this year? It’s possible, we don’t know anything for sure. For now, just turn on the TV and repeat to yourself: “Serenity now.”