Netflix Pays Big for The Walking Dead - $500M Deal, But AMC+ Keeps a Key
Global licensing for 371 episodes across the franchise. Netflix expands beyond the US, shares rights with AMC+, spin-offs land worldwide from 2027.
Zombies are expensive again. In a good way - for AMC’s shareholders.
AMC Global Media said Thursday it locked a multi-year global licensing deal with Netflix worth a reported $500 million. The package covers the original Walking Dead series plus all six spin-offs - 371 episodes of bite marks, moral speeches, and people arguing about fences.
What actually changes
Netflix has been the US streaming home for the mothership show since 2011. That exclusivity ends. Netflix still gets the library, but now shares streaming rights with AMC+. In return it pushes the franchise into more markets - UK, Italy, Australia, New Zealand and beyond.
From 2027, Netflix subscribers worldwide also get the spin-off slate: Fear, World Beyond, Tales, Dead City, Daryl Dixon, The Ones Who Live. Dead City is already back for season three. Daryl Dixon’s final season is penciled for 2027. Timing looks deliberate.
Why AMC smiled on the earnings call
The announcement rode alongside quarterly numbers. Guidance went up. Wall Street likes a clear check attached to a dusty-but-beloved IP. Netflix likes catalog that people finish in a weekend and then argue about on TikTok.
Is $500 million a lot for a show that already lived a full life on cable? For a streamer hunting engagement without inventing another universe from scratch - yes. For fans who just want one app that has everything - closer, but AMC+ still holds a key. Co-exclusive means you may still need two logins. The zombies, at least, do not care.