As some of you might have heard, Netflix will be losing their license to stream hit comedy sitcom “Friends” at the end of the year. This is a bummer as Friends is one of the more popular sitcoms from back in the day and continues to be very much beloved until today. However, there is some good news for those who loved their sitcoms from back then.

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This is because while Netflix might be losing Friends, they will be gaining another classic and massively popular sitcom in the form of “Seinfeld”. The series will be arriving on Netflix’s platform come 2021 thanks to a new licensing deal that Netflix has landed with Sony for a five-year period.

At the moment, Hulu is the current rights-holder to Seinfeld until 2021, but it will soon be moving to Netflix’s platform. The Hollywood Reporter cites sources who claims that the deal is said to be worth as much as $500 million and will cover global rights, which means that Netflix subscribers around the world should have no problems streaming it upon its release.

In a statement made by Netflix’s chief content officer Ted Sarandos, “Seinfeld is the television comedy that all television comedy is measured against. It is as fresh and funny as ever, and will be available to the world in 4K for the first time. We can’t wait to welcome Jerry, Elaine, George and Kramer to their new global home on Netflix.”

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