The streaming war (to be) continues:
https://seekingalpha.com/news/347377...streaming-2021
Widely expected but now official: NBCUniversal (NASDAQ:CMCSA) will be taking back popular sitcom The Office from Netflix (NASDAQ:NFLX) in 2021, when its contract ends, to bring the program to its upcoming streaming service.
The Office, which ran on NBC from 2005 to 2013, is reportedly Netflix's most-watched show.
It will get a five-year exclusive run on NBCU's new service when it arrives in a couple of years.
NBC's ad-supported streaming offering is set to launch in the first quarter next year. It's expected to be free for pay TV subscribers and cost about $10/month for cord-cutters.
After hours: Comcast +0.7%; Netflix +0.1%.
Updated 6:19 p.m.: Netflix makes an ad-related point in a tweet: "We're sad that NBC has decided to take The Office back for its own streaming platform — but members can binge watch the show to their hearts' content ad-free on Netflix until January 2021."