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South Park lands $1.5-billion global streaming deal with Paramount: What to know
The global streaming rights of South Park are valued at $300 million a year
In a monumental move that is set to shake up the streaming world, South Park creators Trey Parker and Matt Stone have struck a $1.5 billion streaming deal with Paramount. The entertainment giant has agreed to purchase the worldwide streaming rights for the animated show to release it on the company's digital service, Paramount+, reported The LA Times.
According to two sources close to the agreement, the global streaming rights of South Park are valued at $300 million a year, per the outlet. With the five-year contract, the show's streaming revenue will reach $1.5 billion. As part of the agreement, Parker and Stone's production house, Park County, will produce ten episodes annually.
Why is the deal important for Paramount?
Paramount always wanted to bring South Park home. Back in 2019, former corporate managers licensed the show to HBO Max while Paramount's streaming service was still in the early stages of development. The contract finally ended in June this year.
Also Read: South Park Season 27 delayed by two weeks: Know when and where to watch
In order to give the sitcom a platform on two streaming services, Paramount offered to co-license the show with HBO Max and its parent company, Warner Bros. Discovery. However, the negotiations with Warner Bros. Discovery broke down over the weekend and Paramount decided to do it alone.
Due to a 2007 agreement, Park County has the right to receive almost half of the show's streaming earnings through South Park Digital Studios, a joint venture with Paramount. Eventually, Paramount should be able to recover almost half of the license money it paid for the streaming rights, according to the revenue-sharing agreement.
The deal with Paramount marked a new era for South Park, cementing its place as a cornerstone of modern television. It is expected to bring fresh content, innovative projects and unprecedented access to the show's iconic characters.
FAQs:
1. What is South Park?
South Park is an American adult animated sitcom created by Trey Parker and Matt Stone.
2. What is South Park’s plot?
The show is set in the fictional town of South Park, Colorado, and follows the adventures of four young boys: Stan Marsh, Kyle Broflovski, Eric Cartman, and Kenny McCormick.
3. When is the next season of South Park coming out?
South Park Season 27 will be released on Comedy Central on July 23.
