Netflix expands 'The Walking Dead' deal, but loses exclusive hold on zombie franchise

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Set us as preferred Under a new licensing agreement, Netflix will be streaming “The Walking Dead” franchise globally.Netflix and AMC Global Media, the network that originally aired the zombie series, inked a new five-year co-streaming deal, according to a news release on Thursday.Both companies will be able to show the original “The Walking Dead” series and its six spinoffs on Netflix and AMC+.

The deal is valued at $500 million, AMC Global Media said in its second-quarter earnings report.“This deal creates a global destination for this universe — all shows, all episodes — making the franchise more accessible than ever to fans around the world.In addition, the co-exclusive agreement allows us to bring the original series to AMC+ for the first time early next year,” Kristin Dolan, the company’s chief executive, said in a statement.

“This agreement is a fantastic result for our companies, for the fans and for this timeless IP.” Hollywood Inc.Netflix stock declined 11% on Thursday morning, after investors raised concerns about Netflix’s future growth following its second-quarter earnings report.AMC Global Media is renting the franchise, not selling it.

The five-year licenses run separately for each show, with start dates that vary based on territory and the expiration of existing streaming deals.The rights to “The Walking Dead” revert to AMC Global Media when the term ends.

The company also keeps global rights to run the “Walking Dead” universe on its own services throughout.Dolan told investors the agreement would supply what she called “a meaningful source of cash flow for years to come,” framing it as evidence that the company’s library still commands premium prices even as its cable business shrinks.The agreement will extend the franchise’s reach on Netflix in places like the U.K., ...