Netflix renews ‘The Walking Dead’ franchise rights, and this time it’s a five-year $500 million co-exclusive deal with AMC

Netflix has officially renewed its licensing deal for The Walking Dead, securing the rights to the entire zombie franchise in a massive five-year, $500 million agreement with AMC Global Media, Deadline reported. This move cements the series as a cornerstone of the streaming landscape.

The deal covers a staggering 371 episodes, including the original series and its six spinoffs. You will be able to watch The Walking Dead, Fear the Walking Dead, The Walking Dead: Daryl Dixon, The Walking Dead: Dead City, The Walking Dead: The Ones Who Live, The Walking Dead: World Beyond, and Tales of The Walking Dead on the platform. It is a massive expansion for subscribers in the UK, Italy, Australia, and New Zealand, as well as the U.S., where the show has been available since 2011.

This agreement is co-exclusive, which means you will also see the original series appear on AMC+ starting next year. It is a smart move for AMC Global Media, especially considering that their second-quarter earnings results fell short of Wall Street expectations. While the company saw these results, they are raising their full-year guidance, and this streaming deal is a major part of the reason why. The original series has been an economic engine for the company since it premiered on Halloween in 2010, and it is clear that the franchise still holds a lot of value for them.

For Netflix, this renewal comes at a time when there is a lot of focus on how subscribers are engaging with content

While some original titles have faced ratings declines in later seasons, Netflix remains a dominant force with industry-low churn and some truly best-in-class technology. The so-called Netflix effect is still a very real thing, and bringing this massive library to new territories is a good way to keep that momentum going.

Lori Conkling, Vice President of Licensing at Netflix, highlighted the long history of the show on the platform. “Audiences have discovered and loved The Walking Dead on Netflix for nearly 15 years and the show continues to attract new fans,” she said. “We’re excited to partner with AMC Global Media to continue to expand that access to more audiences around the world and bring the entirety of The Walking Dead Universe to Netflix.”

It is also a big win for the team at AMC Global Media. Kristin Dolan, CEO of AMC Global Media, shared her thoughts on the partnership, saying, “We are thrilled to expand our long-time partnership with Netflix around The Walking Dead.”

She added, “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. Netflix has been an important partner in making The Walking Dead one of the most successful franchises in the history of entertainment. This agreement is a fantastic result for our companies, for the fans and for this timeless IP.”