Just a few weeks after signing its first deal for an original TV series, “House of Cards,” Netflix has signed another deal to break the traditional television business model. This isn’t for a new show, but rather the first syndication rights to “Mad Men.”
The deal with Lionsgate gives Netflix the license for the first four seasons of the Emmy Award-winning cable series. “Mad Men” will be available for streaming by Netflix members in the US effective July 27th and immediately, under a separate agreement, in Canada. Additional seasons, up to seven in all, will be added under the multi-year contract after the complete their airing on the AMC network.
“Mad Men has been and continues to be a representation of TV at its best and Netflix is proud to be the syndication home for this acclaimed series. This deal secures long term instant access to an iconic show for Netflix members for years to come,” said Ted Sarandos, Chief Content Officer at Netflix.
“We’re delighted to partner with Netflix to begin our syndication of Mad Men, said Lionsgate President and Co-Chief Operating Officer Steve Beeks. “We have ensured Mad Men’s value for years to come by layering today’s unique syndication deal with a leading digital distribution partner on top of last week’s licensing agreement with AMC. The innovative structure of our distribution plan underscores the tremendous value of producing and owning content in a digital world where demand for content continues to grow and pathways for reaching consumers continue to diversify. We will announce our transactional digital plans and other elements of our syndication strategy for Mad Men shortly,” he added.
Lionsgate announced last week that it has entered into a new three-year agreement with Mad Men creator Matthew Weiner to continue as showrunner and Mad Men will return to AMC for Seasons 5 and 6 with the expectation of a seventh season as well.
RBR-TVBR observation: The video model is evolving rapidly. Cable networks are producing more and more scripted series to compete in what was once the exclusive domain of the broadcast networks. Netflix is now competing for content. And now with Dish Network buying Blockbuster the online streaming competition is likely to become even hotter.