Netflix is making a significant move to expand its content library by signing a substantial licensing agreement valued at a reported $500 million, aimed at bringing The Walking Dead Universe to global audiences.
On Thursday, AMC Global Media announced a multi-year global licensing deal with Netflix. This agreement grants Netflix co-exclusive rights to the original “The Walking Dead” series and all six of its spin-offs, totaling 371 episodes across the franchise.
Since 2011, Netflix has been the exclusive streaming platform for The Walking Dead in the U.S., introducing the survival drama to millions. With this new agreement, the show’s availability will now extend to additional markets, including the U.K., Italy, Australia, and New Zealand.
A notable aspect of this deal is that Netflix will no longer hold exclusive rights. Instead, streaming access will be shared with AMC+, ending Netflix’s decade-long exclusive control over the series.
The $500 million licensing fee is one of the largest in recent years. For context, HBO Max paid $425 million to acquire “Friends” from Netflix in 2020.
This move comes as data indicates many Netflix subscribers do not continue to watch second seasons of newer shows, suggesting well-established franchises with extensive episode counts are a more reliable way to encourage binge-watching and increase overall viewing hours.
Starting in 2027, Netflix subscribers worldwide will have access to the franchise’s full slate of spin-offs, including “Fear the Walking Dead,” “World Beyond,” “Tales of the Walking Dead,” “Dead City,” “Daryl Dixon,” and “The Ones Who Live.”
The timing of this agreement coincides with the return of “Dead City” for its third season, as fans eagerly await the final season of “Daryl Dixon,” set to premiere in 2027.
The Walking Dead joins Netflix’s ever-growing list of popular shows aimed at boosting engagement. Over the years, Netflix has invested billions to secure streaming rights to series like “The Office,” and earlier this year, it also struck a deal to stream “Sesame Street.”
In addition, the announcement of the deal positively impacted AMC Networks’ financial outlook. The company revealed the Netflix agreement alongside its quarterly earnings report on Thursday, using it to enhance its forward guidance.
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