Key facts
- Netflix secured global co-exclusive streaming rights to "The Walking Dead" franchise.
- The deal includes the original series and six spin-offs, totaling 371 episodes.
- The licensing agreement is reportedly valued at $500 million.
- Netflix will share streaming access with AMC+.
- The franchise's spin-offs will become available on Netflix starting in 2027.
Netflix has entered into a significant global licensing agreement with AMC Global Media, reportedly worth $500 million, to stream "The Walking Dead" franchise. This multi-year deal grants Netflix co-exclusive streaming rights to the original "The Walking Dead" series and all six of its spin-offs, covering a total of 371 episodes.
While Netflix has been the exclusive U.S. streaming home for the original series since 2011, this new agreement expands its reach to additional markets, including the U.K., Italy, Australia, and New Zealand. Notably, Netflix will share streaming access with AMC+, ending its long-standing exclusive hold on the franchise in the U.S.
The substantial price tag places this deal among the most expensive television licensing agreements in recent years. The move aligns with Netflix's strategy of leveraging established franchises with extensive episode counts to drive viewership and engagement, particularly as subscriber retention for newer shows can be challenging.
Beginning in 2027, Netflix subscribers worldwide will have access to the entire slate of spin-offs, including "Fear the Walking Dead," "Tales of the Walking Dead," "Dead City," "Daryl Dixon," and "The Ones Who Live." The announcement coincides with the return of "Dead City" for its third season and anticipation for the final season of "Daryl Dixon" in 2027.
The deal also provided a positive boost to AMC Networks' financial outlook, as the company raised its forward guidance alongside the quarterly earnings report.