Outbid, Netflix to Lose The Office

Netflix is about to lose its most-streamed show. All nine seasons of The Office will be transferred to NBCUniversal's own streaming service in 2021 as part of a five-year deal, the company confirmed Tuesday, with BuzzFeed rounding up sorrowful Twitter sentiments via GIFs. NBCUniversal's service is expected to launch next year, though Netflix has the rights to air The Office throughout 2020, reports the Los Angeles Times. Netflix reportedly offered Universal Television some $90 million a year to keep the show. Per CNBC, NBCUniversal will pay slightly more for the rights—$100 million for each of five years.

In a statement, Bonnie Hammer, chairman of NBCUniversal Direct-to-Consumer and Digital Enterprises, called The Office "a staple of pop culture" and "a rare gem whose relevance continues to grow." "We can't wait to welcome the gang from Dunder Mifflin," she added. NBCUniversal's streaming service will be free for cable subscribers. Otherwise, the cost will be $10 per month. WarnerMedia is also planning to launch its own streaming service, meaning Netflix is likely to lose its second most-streamed show, Friends, per the Hollywood Reporter. Netflix retains the rights to air that show until the end of this year. (More Netflix stories.)