Netflix Secures Global Streaming Rights to the Walking Dead Franchise

Netflix and AMC Global Media have reached a multi-year licensing agreement that will bring the full Walking Dead television universe to additional international markets. The deal covers the original series and six spinoffs, representing 371 episodes, and is reportedly worth about $500 million.

Netflix has streamed the original program in the United States since 2011. The new agreement expands availability to markets including the United Kingdom, Italy, Australia and New Zealand. Beginning in 2027, subscribers will also gain access to spinoffs such as Fear the Walking Dead, Dead City, Daryl Dixon and The Ones Who Live.

The arrangement is co-exclusive rather than exclusive. AMC+ will continue carrying the franchise, ending Netflix's long-standing position as the only U.S. subscription streaming home for the original series. Sharing rights lets AMC preserve its direct service while using Netflix's global reach to attract new viewers.

Established libraries are becoming more valuable as streaming companies seek reliable viewing hours and lower customer-acquisition risk. A franchise with hundreds of episodes can support long viewing sessions and remain useful between expensive original releases. The reported price exceeds several prominent television licensing agreements from the last decade.

The agreement may also improve the economics of older television production. Once a franchise has recovered its original cost, international licensing can create high-margin revenue for years. Streaming companies benefit from a known audience, while rights owners gain another reason to maintain organized catalogs, localized subtitles and clear distribution rights across many territories.

The deal strengthens Netflix's library at a time when streaming services are competing on both new originals and familiar franchises. A large global package can improve engagement across markets without the full risk of producing hundreds of new episodes. AMC gains distribution and licensing revenue while retaining a brand that can support future projects. The companies will need consistent windows and clear territorial rights so subscribers understand what is available. Discovery will also matter because 371 episodes can overwhelm a viewer unless Netflix builds useful franchise pages, chronology and entry points for people who have never watched the series.

For Netflix, the deal is a bet that familiar intellectual property can reduce churn in markets where local catalogs vary. For AMC, it monetizes an existing asset without abandoning its own platform. The challenge will be measuring whether international availability creates durable engagement or only a temporary burst of nostalgic viewing.