Digital streaming service Hulu inked a massive $180 million deal with Sony Pictures Televison Thursday for the rights to distribute every episode of Seinfeld via their on-demand platform.
Financial terms have yet to be disclosed, but the Wall Street Journal reports that Hulu outbid Amazon and Yahoo with a price of about $700,000 per episode. The money is to be split between distributor Sony TV, Time Warner’s Castle Rock (the original producer) and Seinfeld investors—including co-creators Jerry Seinfeld and Larry David.
The majority of the revenue will go to Time Warner because they own Castle Rock Entertainment.
Hulu is expected to officially announce the deal Wednesday during an ‘upfront’ presentation to advertisers.
The “show about nothing” has had a prosperous afterlife since it ended after nine seasons in 1998 but this is the first time the entire Seinfeld catalog will be available in the new binge-watching era of online streaming television.
TBS will continue to run re-runs on their cable network.
Last October, Netflix struck a deal to stream every episode of the other NBC sitcom giant Friends, which began on Jan. 1, for $500,000 per episode.