Netflix spends big to keep ‘Friends’
Netflix will still be there for fans of the old TV series “Friends,” but maintaining the relationship will come at a steep price.
The video streaming service paid $100 million to keep showing “Friends” in the U.S. through 2019, according to a report in the New York Times.
That’s more than triple the $30 million a year Netflix had been paying for the long-running TV series about six 20-something friends in New York. The report cited two unidentified people with direct knowledge of Netflix’s deal with the series’ rights holder, AT&T.
Netflix’s willingness to pay so much for a series that ended in 2004 is the latest sign of intensifying competition in video streaming.
Besides current rivals such as Hulu and Amazon, Netflix is also facing a significant threat next year when Walt Disney Co. plans to roll out a video streaming service featuring its popular movies and TV shows.