But fear not, not all is lost for Netflix. They just stole Jerry Seinfeld's Comedians in Cars Getting Coffee from Crackle for the low, low price of $100 million.
Jethro Nededog dives into the reasons beyond just the money:
Seinfeld likes to be in control of all aspects of his projects and becomes very personally invested in their success. He calls his celebrity guests to book them for the unconventional interview show himself. So one of Seinfeld's biggest gripes was Crackle's advertising model and the demands placed on him by Acura, the exclusive sponsor of "Comedians."
Acura, for example, could demand one of its cars be featured on a specific episode set to stream on a date that matched its marketing plan, and Seinfeld didn't like giving up that creative and production control. So while shopping the show, he overwhelmingly targeted companies that had subscription revenue models that didn't depend on advertising. In addition to Netflix and Hulu, Seinfeld approached HBO. The premium cable network considered the offer, "kicked the tires" as one insider from HBO put it, but things didn't proceed to any "meaningful discussion."Read more...