Netflix & CBS Agree To Multiyear Contract Extension For Streaming Content

Netflix (NASDAQ:NFLX) and CBS (NYSE:CBS) have announced a multiyear extension of their licensing deal that lets the venerable network instantly deliver content from its vast catalog to the popular streaming service.

According to the Hollywood Reporter, new titles like “L.A. Complex,” “4400” and “CSI: NY” will now be available on Netflix. The deal also includes shows already available on the service, including “Jericho,” “Medium” and “Flashpoint,” as well as all versions of “Star Trek” and “Twin Peaks.”

"We are very pleased to build on this long-term partnership that continues to recognize the tremendous value of CBS' catalog of content," said Scott Koondel, chief corporate content licensing officer for CBS Corp. "Netflix is a key programming partner that is additive to our overall business, and we look forward to working with them in the years to come."

"We are delighted to be bringing these much-loved series to our members in the U.S.," said Ted Sarandos, chief content officer for Netflix. "Our goal is to give Netflix members a broad mix of engaging shows to watch, and we look forward to adding even more high-profile titles from CBS in the near future."

This isn’t the first streaming service CBS has partnered with this year. As PCMag notes, the network recently announced an expanded licensing agreement with Amazon (NASDAQ:AMZN), which allows Amazon Prime users to stream shows such as “America's Next Top Model,” “Everybody Loves Raymond,” “Jericho,” “The L Word,” “Undercover Boss,” and “United States of Tara,” as well as “Medium,” “The Tudors,” and “I Love Lucy.”

Meanwhile, Netflix continues to fend off competition in the North American streaming media industry. PCMag points to a recent statistics report by Sandvine, which states that Netflix controls 32.3 percent of peak-period traffic. YouTube ranks second at 17.1 percent. Globally, YouTube remains the most widely used streaming service.

According to the Hollywood Reporter, Netflix also recently signed a new licensing deal with PBS that includes several educational and children’s programs, as well as Ken Burns documentaries such as “Prohibition” and “The Central Park Five.”