Key Takeaways:
– Larry David is not pleased with Steve Bannon’s profit from the reruns of Seinfeld.
– Before becoming part of Donald Trump’s administration, Steve Bannon had a stake in Castle Rock Entertainment, which profited from Seinfeld’s reruns.
– Netflix reportedly paid a massive $500M to feature Seinfeld on their platform.
– Despite ending 25 years ago, Seinfeld still remains one of the biggest earners in TV history.
Room to Return: Seinfeld’s Evergreen Popularity
The sitcom Seinfeld, fondly remembered as the show about “nothing,” continues to garner attention and massive profits even after its conclusion 25 years ago. The timeless classic remains a big moneymaker in the TV landscape. Hence, it comes as no surprise that streaming giant Netflix shelled out a whopping $500 million to acquire its rights.
Lending more weight to Seinfeld’s earning power is the fact that the creators, Larry David, and Jerry Seinfeld, along with other people connected to the show, have benefited greatly from its enduring appeal. Interestingly, Steve Bannon, former Chief Strategist to President Donald Trump, also profited from Seinfeld’s success.
The Unexpected Beneficiary: Steve Bannon’s Stake in Seinfeld
Before his political career, Bannon was an investment banker and founded his firm in 1990. He was involved in assisting Westinghouse Electric to secure a minority stake at Castle Rock Entertainment. However, in a twist of events, Bannon’s firm ended up acquiring a stake in Castle Rock.
This bode well for Bannon’s luck as Castle Rock’s portfolio included five shows, one of which was Seinfeld. While exact figures remain undisclosed, reports from 2013 suggest that Seinfeld made a staggering $3.1B from its reruns, implying that Bannon also enjoyed a substantial windfall.
A Writer’s Discontent: Larry David Reacts to Bannon’s Earnings
When Larry David learned about Bannon’s profit from Seinfeld, he was far from pleased. More than playing a part in Bannon’s financial gain, David was distinctly uneasy about indirectly contributing to the rise of Trump’s ‘Make America Great Again’ movement.
“I didn’t become aware that Bannon had some kind of profit participation in the show… until a couple of years ago, actually. But, yeah, it’s sickening”, David confessed in an interview with Variety.
An Era of Profits: Seinfeld Paves the Way
The success story of Seinfeld goes beyond remaining a fan favorite. It showcases the show’s financial potential, which led to NBC executives being willing to shell out over $100 million to have Jerry Seinfeld back on their network for more seasons.
Despite wrapping up decades ago, Seinfeld continues to be a massive moneymaker in the world of television, proven by its high earning reruns and Netflix’s monumental deal.
As of now, all nine seasons of Seinfeld are available for streaming on Netflix, allowing fans old and new to journey back to the life of Jerry, Elaine, George, and Kramer—characters who have become permanent fixtures in pop culture lexicon.
This enduring charm and profitability of a ‘show about nothing’ remain a shining testament to the timeless appeal of quality storytelling and relatable humor—proving once again that in the world of entertainment, good content is indeed king.
