CBS AND NETFLIX ANNOUNCE TWO-YEAR LICENSING AGREEMENT FOR LIBRARY CONTENT
NEW YORK and BEVERLY HILLS, Calif. February 22, 2011 CBS Corporation [NYSE: CBS.A and CBS] and Netflix, Inc. [Nasdaq: NFLX] today announced a two-year, non-exclusive licensing agreement that will allow select TV shows from CBS's library, including episodes of "Medium" and "Flashpoint" as well as full seasons of classics such as "Frasier," and "Cheers," to be streamed instantly from Netflix. CBS retains an option to extend the agreement for up to two additional years. Terms of the deal were not disclosed.
Beginning in early April, dozens of hit shows from CBS will join the extensive library of television shows and movies available to watch instantly from Netflix for only $7.99 a month.
Content covered under the new deal includes the long-running drama, "Medium" and the summer season favorite, "Flashpoint." Also covered under the agreement are episodes from some of television's most iconic franchises. Full seasons of sitcom greats "Frasier," "Family Ties" and "Cheers" will be streaming instantly from Netflix. Episodes from the original "Hawaii Five-0" are included in the package, as are episodes from all generations of the definitive sci-fi series, "Star Trek," and the cult favorite, "Twin Peaks." Installments of '60s classics, "The Twilight Zone" and "The Andy Griffith Show," will be available as well.
"This deal recognizes the increasing value of our content in today's marketplace," said Scott Koondel, President of Distribution, CBS Television Distribution. "More and more, people want to be able to access our programming on a wide variety of platforms. We are very pleased that the titles offered through this deal will now also be made available to a whole new community through the terrific and convenient service that Netflix offers. We will continue to pursue additional non-exclusive distribution partners that are additive to our overall business."
"We are thrilled to be bringing CBS shows to Netflix and are looking forward to growing our relationship over time," said Ted Sarandos, Chief Content Officer for Netflix. "Netflix is now the only online premium subscription service with shows featured on all four broadcast networks and dozens of cable TV's biggest brands."
