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Netflix Secures $500 Million Global Streaming Deal for The Walking Dead Franchise

Netflix has expanded its streaming rights for The Walking Dead franchise under a major new global agreement with AMC Global Media reported to be worth $500 million. The multi-year deal grants Netflix co-exclusive global streaming access to the original flagship series along with all six of its spin-off shows.

What Happened

AMC Global Media announced on Thursday that it has reached a multi-year global licensing agreement with Netflix covering the entire The Walking Dead franchise, encompassing 371 episodes. While Netflix has served as the exclusive U.S. streaming platform for the main series since 2011, the expanded deal widens its availability to additional international markets such as the United Kingdom, Italy, Australia, and New Zealand.

Under the new agreement, Netflix will share streaming access with AMC+ rather than holding sole exclusivity. This officially ends Netflix’s more than decade-long exclusive U.S. hold on the main show. Valued at a reported $500 million, the arrangement ranks among the most expensive television licensing transactions in recent years, surpassing HBO Max’s $425 million deal for Friends in 2020.

Key Highlights

  • Valuation and Scope: The multi-year deal is reportedly valued at $500 million and covers 371 episodes across the franchise.
  • Shared Access: Netflix will hold co-exclusive rights alongside AMC+, ending its exclusive U.S. streaming hold on the original series.
  • Global Expansion: Expands availability of the franchise to additional international territories, including the U.K., Italy, Australia, and New Zealand.
  • Spin-Off Slate in 2027: Global subscribers will gain access to six spin-off series starting in 2027, including Fear the Walking Dead, World Beyond, Tales of the Walking Dead, Dead City, Daryl Dixon, and The Ones Who Live.
  • Financial Impact for AMC: AMC Networks announced the agreement alongside its quarterly earnings report on Thursday and raised its forward guidance.

Why This Matters

The acquisition aligns with streaming retention strategies where long-running franchises offer reliable value. Recent data indicates that many Netflix subscribers do not stick around for second seasons of newer shows. Consequently, securing established library content with hundreds of episodes provides a safer way to drive binge-watching and overall viewing hours. The move complements Netflix’s previous investments in popular titles such as The Office and its recent agreement to stream Sesame Street.

What to Watch Next

Subscribers worldwide can expect the entire lineup of six spin-off series to arrive on Netflix starting in 2027. Regarding upcoming releases, Dead City is returning for its third season, while the final season of Daryl Dixon is scheduled to premiere in 2027.

Frequently Asked Questions

What shows are included in the Netflix deal?

The deal covers the original The Walking Dead series along with six spin-offs: Fear the Walking Dead, World Beyond, Tales of the Walking Dead, Dead City, Daryl Dixon, and The Ones Who Live.

Will Netflix be the exclusive streaming home for The Walking Dead?

No. Netflix will share streaming access co-exclusively with AMC+, ending its former exclusive U.S. hold on the primary series.

When will the spin-off series become available on Netflix globally?

Global streaming access for all six spin-off series is set to begin on Netflix in 2027.

Source: TechCrunch, AMC Global Media announcements.