Netflix and AMC Global Media have signed a major five-year licensing agreement worth $500 million that will allow both companies to stream the entire The Walking Dead universe beginning in 2027. The co-exclusive deal includes 371 episodes spanning the original series and all six spin-off shows, making it one of the biggest television licensing agreements in recent years.
The agreement covers the flagship The Walking Dead series, as well as Fear the Walking Dead, The Walking Dead: Daryl Dixon, The Walking Dead: Dead City, The Walking Dead: The Ones Who Live, The Walking Dead: World Beyond, and Tales of The Walking Dead. Together, these shows have built one of the largest and most successful television franchises in modern entertainment.
Netflix has been the exclusive streaming home of The Walking Dead in the United States since 2011, introducing the zombie drama to millions of viewers around the world. Under the new agreement, however, the company will no longer hold exclusive rights. Instead, Netflix and AMC+ will share streaming access to the franchise, allowing fans to watch the series on either platform.
The partnership also marks the first time the original The Walking Dead series will be available on AMC+, giving the network's own streaming service access to the show that launched the global franchise.
Beyond the United States, Netflix plans to expand the availability of the franchise across several international markets. As existing licensing agreements expire, viewers in countries including the United Kingdom, Italy, Australia, and New Zealand will gradually gain access to the complete collection of The Walking Dead series.
Industry analysts say the agreement reflects a growing trend among streaming companies to invest in well-established franchises instead of relying solely on original programming. Long-running shows with hundreds of episodes encourage binge-watching and help keep subscribers engaged for longer periods.
The reported $500 million price tag makes the deal one of the largest TV licensing agreements in recent history. For comparison, HBO Max reportedly paid around $425 million to secure the streaming rights to Friends in 2020 after the sitcom left Netflix.
The investment also comes at a time when streaming platforms are placing greater value on proven content. Recent industry data suggests many viewers do not continue watching newer series beyond their first season, making established franchises like The Walking Dead a more reliable way to attract and retain subscribers.
Starting in 2027, Netflix subscribers around the world will be able to stream every major chapter of the franchise, including fan favorites such as Fear the Walking Dead, World Beyond, Tales of The Walking Dead, Dead City, Daryl Dixon, and The Ones Who Live.
The announcement also arrives during a busy period for the franchise. The Walking Dead: Dead City is returning for its third season, while fans are already looking ahead to the final season of The Walking Dead: Daryl Dixon, which is scheduled to premiere in 2027.
For Netflix, the agreement continues its strategy of securing popular, long-running television series that encourage repeat viewing. Over the years, the company has invested billions of dollars in acquiring streaming rights to hit shows such as The Office, and earlier this year it also reached an agreement to stream Sesame Street.
AMC Networks also expects the partnership to strengthen its business. The company announced the Netflix deal alongside its latest quarterly earnings report and said the agreement has improved its financial outlook, prompting it to raise its forward guidance for the coming years.
With the new partnership in place, fans of The Walking Dead will soon have more ways than ever to revisit the original series and every spin-off, while Netflix and AMC hope the beloved franchise continues to attract millions of viewers around the world.
