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Netflix Says It Will Let Viacom Deal Expire

Netflix Says It Will Let Viacom Deal ExpireNetflix Says It Will Let Viacom Deal Expire

This news nugget was tucked into Netflix‘s letter to investors that CEO Reed Hastings and CFO David Wells released today: They say that at the end of May they won’t renew their broad deal with Viacom Networks that enables Netflix to carry programming from Nickelodeon, BET and MTV. “We are in discussions with them about licensing particular shows but have yet to conclude a deal,” the execs say. The change reflects Netflix’s effort to “focus on exclusive and curated content” which lessens its willingness to pay for “non-exclusive, bulk content deals.” Hastings and Wells add that “with all the recently added fresh programming from Disney, Cartoon Network, Hasbro’s The Hub and DreamWorks Animation, we have a great kids offering.” Netflix also says that it will try to appeal to large families by offering an $11.99 a month service that enables subscribers to stream up to four shows simultaneously vs the standard $7.99 service which allows two streams. The execs say that they expect “fewer than 1% of members to take it.”

Related:
Netflix CEO Says ‘Hemlock Grove’ Beat ‘House Of Cards’ In Early Viewing
Netflix Shares Soar After It Beats Q1 Earnings Forecasts

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