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Seinfeld's exit may leave NBC peacock drooping
Show accounted for one-third of programming profits
December 26, 1997
Web posted at: 10:16 p.m. EST (0316 GMT)From Correspondent Steve Young
NEW YORK (CNN) -- Jerry Seinfeld's departure at the end of this television season is a big loss for millions of his fans. But it might be an even bigger loss for NBC, the network which has profited handsomely from the sitcom's wild success.
By some estimates, "Seinfeld" accounts for more than a third of the $500 million NBC earns each year in programming profits. Thirty-second ads on the sitcom sell for a whopping $1 million each -- the highest advertising rate for a regularly scheduled show.
Scene from "Seinfeld" "Seinfeld" is also the linchpin of NBC's dominant Thursday night television lineup. Along with "ER" and "Friends," NBC can deliver the 18-to-34-year-old audience that advertisers crave.
A weakened evening on Thursdays, then, could weaken NBC's overall strength. And the show's departure is just one of the costly problems facing NBC.
"They just have a new NBA contract to deal with, and, shortly after 'Seinfeld,' (they) have 'ER' which is going to be up for renewal," says John Reidy, a media analyst with Salomon Smith Barney. "This is not the best of times in terms of potential costs for NBC."
But all of the cashing in on "Seinfeld" hasn't come to an end. Re-runs of the show are expected to make a bundle -- by some estimates, close to a billion dollars over the years.
NBC, however, won't get that money. Most of it will go to the show's distributor, Sony's Columbia Tristar unit, and the show's producer, Castle Rock Entertainment.
Castle Rock is owned by Time Warner, which is the parent company of CNN.
Seinfeld himself also has a piece of the syndication action, which could be one reason he decided the timing was right to make a graceful exist. After all, in comedy, as in life, timing can be everything.
Message board:
Related stories:
- Seinfeld calls decision to end show 'all about timing' - December 26, 1997
- 'Seinfeld' signs off at end of this season - December 26, 1997
- Seinfeld retains his No. 1 appeal - December 24, 1997
Related sites:
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- Castle Rock Entertainment
- Columbia TriStar Television - Seinfeld
- NBC.com TV Central - Seinfeld
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