NBCUniversal is paying $500M to pull “The Office” from Netflix

Hollywood Reporter:

NBCUniversal — the parent company of producers Universal TV — won an auction for the library after outbidding Netflix in a $100 million-per-year pact.

And:

Disney, meanwhile, has made clear that it doesn’t plan to stay in business with Netflix given its own streaming ambitions. Now that the company has majority control of Hulu, that platform is likely to benefit from the pullback of Disney-owned ABC’s programming from Netflix.

If you are into the biz side of TV streaming, this is a fascinating read. Lots of detail.

My takeaway: The breakup of content bundles is going to create a lot of options for consumers, and that’s not necessarily a good thing. If you want Star Trek, you’ll need to pony up for CBS All Access. Want The Office? You’ll need to get the service from NBC (if and when they ship one), or the service they ultimately license to. Add in Netflix, HBO, Disney, etc., and things are going to get expensive.

This is the universe Apple is walking into. They’ll start at zero, with no library to woo viewers away from all the other content-heavy services. But they have the advantage of a passionate user base, already ensconced in the ecosystem, likely to give Apple’s TV+ a try. And they have deep pockets, which will let Apple ride out the early, lean times.

Gonna be interesting.