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Netflix is doubling down on one of television\u2019s biggest franchises, signing a massive new licensing agreement worth a reported<\/a> $500 million to bring The Walking Dead Universe to audiences around the world.<\/p>\n AMC Global Media announced <\/a>Thursday that it has reached a multi-year global licensing agreement with Netflix that will give the streaming giant co-exclusive rights to the original \u201cThe Walking Dead\u201d series and all six of its spin-offs. In total, the deal covers 371 episodes spanning the entire franchise.<\/p>\n Netflix has been the exclusive U.S. streaming home of The Walking Dead since 2011, helping introduce the survival drama to millions of viewers. Now, thanks to the new agreement, its availability extends to additional markets including the U.K., Italy, Australia, and New Zealand.<\/p>\n The deal is particularly notable because Netflix will not have exclusive rights. Instead, the company will share streaming access with AMC+, meaning it will end Netflix\u2019s more than decade-long exclusive hold on the series.<\/p>\n The $500 million price tag ranks among the most expensive television licensing deals in recent years. (For comparison, HBO Max paid $425 million<\/a> to bring \u201cFriends\u201d from Netflix to its platform in 2020.)\u00a0<\/p>\n Additionally, the move comes as recent data<\/a> suggests many Netflix subscribers don\u2019t stick around for second seasons of newer shows, making established franchises with hundreds of episodes a safer bet for driving binge-watching and overall viewing hours.<\/p>\n Beginning in 2027, Netflix subscribers around the world will also gain access to the franchise\u2019s entire slate of spin-offs, including \u201cFear the Walking Dead, \u201cWorld Beyond Tales of the Walking Dead,\u201d \u201cDead City,\u201d \u201cDaryl Dixon,\u201d and \u201cThe Ones Who Live.\u201d\u00a0<\/p>\n The agreement also arrives as \u201cDead City\u201d returns for its third season. Fans are also looking ahead to the final season of \u201cDaryl Dixon,\u201d scheduled to premiere in 2027.<\/p>\n The Walking Dead joins a growing list of popular shows Netflix has pursued to drive engagement. Over the years, it has spent billions securing streaming rights to series such as \u201cThe Office,\u201d while earlier this year it also reached a deal <\/a>to stream \u201cSesame Street.\u201d<\/p>\n Meanwhile, the announcement provided a boost to AMC Networks\u2019 financial outlook. The company unveiled the Netflix agreement alongside its quarterly earnings report<\/a> on Thursday, using the deal to raise its forward guidance.\u00a0<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n