Seinfeld: The $500 Million Sitcom Masterpiece Netflix Acquired

Netflix is the king of the streaming services, with over 300 million subscribers worldwide and a deal to purchase Warner Bros coming. They've been the most popular destination for years as consumers continue to shift away from cable. So, it was no surprise when they purchased the rights to Seinfeld in 2021 for more than $500 million. It was a much-needed win for Netflix, which had just lost the rights to Friends and The Office. That was going to be hard to make up for, so the best way to rebound was to acquire what is arguably the greatest television series of all-time.

In an Era Lacking Sitcoms, 'Seinfeld' Still Rules

Seinfeld was such a hot commodity that every streaming service, like Amazon, Hulu, and HBO Max, wanted it. When Netflix won, their chief content officer, Ted Sarandos, said, “Seinfeld is the television comedy that all television comedy is measured against. It is as fresh and funny as ever, and will be available to the world in 4K for the first time."

Seeing Seinfeld in 4K may have been appealing to some, but that's not why it was such a big deal. After ending its run on NBC in 1998, Seinfeld lived on through DVDs and syndication. However, with many cutting the cord and DVDs losing their popularity, streaming was the only way to go. It was an important way for Seinfeld to live on, not only for those who were already fans, but for those being introduced to the show for the first time. Sadly, sitcoms no longer rule TV like they did in the past. But, in today's world, we need a laugh more than ever, and going back to a carefree era was the best way to do it. In 2024, three years after it was acquired, Seinfeld was the third most-streamed TV show on Netflix.

'Seinfeld' Was Unlike Any Other Sitcom

When Seinfeld made its debut in 1989, sitcoms had a particular set of rules that all shows followed. In a half-hour, a family or group of friends would encounter some sort of drama with hilarious results, but by the last commercial break, they'd make up and hug it out to the delight of the studio audience. That wasn't Seinfeld, where no hugs and no learning were allowed.

In Seinfeld, co-created by Jerry Seinfeld and Larry David, Jerry (Seinfeld), Elaine (Julia Louis-Dreyfus), George (Jason Alexander), and Kramer (Michael Richards) are the absolute worst. Four self-centered New Yorkers who do whatever they want when they want. They think only of themselves, and even though they get their comeuppance on a regular basis, they learn nothing. This was confusing for audiences and NBC execs at first, to the point that Rob Reiner, who co-founded Castle Rock, had to fight to save Seinfeld in its early days.

By Season 3, Seinfeld began to click and hit its stride. It was hilarious to see what situations these awful people could get themselves into, and such a welcome change to the saccharine, predictable comedies of the time. Jerry, George, Elaine, and Kramer were awful people who often deserved what they got, except sometimes they were right, and viewers got to live through them as they said and did things people couldn't get away with in reality.

'Seinfeld' Won 10 Emmy Awards

In Seinfeld, anything was possible. If Jerry wanted to play with his girlfriend's toy collection, he simply drugged her, then did so when she was asleep. If George wanted to have his own bathroom at work, he pretended to be disabled with no shame. And don't even get us started on all of Kramer's wild schemes. No matter what they did, Seinfeld only got better and more popular. In its third season, when the series began to find its mark, Seinfeld was at number 42 in the Nielsen rankings. However, by 1994, and then later its final year of 1998, Seinfeld locked in the number one spot.

They were rewarded not only with massive TV ratings but accolades as well. Over nine seasons and 180 episodes, Seinfeld was honored with 68 nominations, winning 10. They only won Outstanding Comedy once, in 1993, when they were four seasons in. Not to mention, in the mostly male-centric show, Julia Louis-Dreyfus' portrayal of Elaine was important. Rather than being the usual sitcom trope of a happy, smiling, nice woman whose only goal is to find a man, Elaine could be just as much of a jerk as the guys. This resulted in seven nominations for Outstanding Supporting Actress in a Comedy Series for Louis-Dreyfus and a win in 1996. There were sitcoms before and after Seinfeld, yet few had the massive impact on pop culture like this show. For Netflix, and those who still watch it three decades after its conclusion on network TV, Seinfeld was worth every penny.