July 1 (Bloomberg) -- Netflix Inc., the leading online subscription-video service, signed an exclusive multiyear deal with Twentieth Century Fox Television to stream past seasons of “New Girl” to its U.S. online members.
The first season of the ensemble roommate comedy led by actress Zooey Deschanel became available today, and subsequent seasons will go online after their regular broadcast run, the companies said today in a statement.
“We know our members love comedies and that they’ll enjoy watching all the current and future episodes of ‘New Girl,’” said Ted Sarandos, chief content officer at Netflix.
Terms weren’t disclosed. Netflix, based in Los Gatos, California, is seeking exclusive deals for shows that it says resonate with subscribers. The company is spending about 5 percent of its $2 billion annual content budget on originals, and aims for as much as 15 percent within the next few years.
Last week, Netflix ordered a second season of the exclusive prison comedy series “Orange Is the New Black” before the program’s July 11 debut, highlighting the company’s confidence that original and exclusive content will win and keep subscribers.
Netflix rose 3.2 percent to $217.78 at 11 a.m. in New York. The stock has more than doubled this year.
Fox is part of Rupert Murdoch’s New York-based 21st Century Fox, which split from his publishing business on June 28 and begins trading today under the ticker symbols FOXA and FOX.
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