Netflix to lose US Friend's licence after Warner Bros. launches own streaming company

Popular sitcom Friends will officially leave Netflix after this year, the streaming giant announces as rival WarnerMedia’s upcoming streaming service, HBO Max, puts on the heat.

The development adds to the list of programmes leaving the American’s popular streaming website as more companies foray into the streaming business.

However, the beloved sitcom will still be available on Netflix International so users outside the US can still stream the series.

Friends follow six underemployed young adults living in lavish New York apartments. They spend much of their time being best friends, relaxing at the local coffee shop and falling in love (sometimes with each other).

A public statement by WarnerMedia says HBO MAx, set to launch next spring,  will be the exclusive platform for 236 episodes of Friends.

“The One Where We Have to Say Goodbye,” tweets Netflix of the development.” We’re sorry to see Friends go to Warner’s streaming service at the beginning of 2020 (in the US). Thanks for the memories, gang.” the tweet adds.

The One Where We Have To Say Goodbye.

We’re sorry to see Friends go to Warner’s streaming service at the beginning of 2020 (in The US). Thanks for the memories, gang ?

— Netflix US (@netflix) July 9, 2019

The announcement follows the loss of another major sitcom from Netflix, The Office. The cult-favourite will live on NBCUniversal’s upcoming streaming service following its departure from Netflix in 2021.

Vox reports that after buying the streaming rights to Friends for $30 million in 2015, Netflix reportedly paid an additional $80 to $100 million in December 2018 to keep Friends on its service through the end of 2019.

However, AT&T CEO Randall Stephenson recently said that WarnerMedia would be reclaiming popular titles that were licensed to others for its own subscription VOD service, reports Variety.

Analysts have identified the 10-season hit as among the most streamed shows on the Netflix platform.

Meanwhile, Warner Media is yet to fix price for its upcoming HBO Max streaming service, reportedly will have 10,000 hours of content upon launch according to CBS.