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'Seinfeld' will leave Hulu and head to Netflix in 2021

Netflix subscribers will be saying goodbye to The Office in 2021, but starting that same year they'll have a new legacy TV series to rewatch endlessly: Seinfeld.

All 180 episodes from the classic NBC series will arrive on the streaming platform just as The Office takes its leave. It's a loss for Hulu, which is the current streaming home for Seinfeld reruns on the internet.

Netflix confirmed the news in a Monday afternoon tweet.

"Seinfeld is the television comedy that all television comedy is measured against," Netflix exec Ted Sarandos said in a statement. “It is as fresh and funny as ever and will be available to the world in 4K for the first time."

The financial terms of the deal aren't known, but the license secures Seinfeld's home on Netflix for five years, starting in 2021. A report from the Los Angeles Times noted that the streamer paid "far more" than the $500 million NBCUniversal reportedly paid for The Office.

While Netflix has, by its own admission, shifted much of its attention to original productions, a catalog offering like Seinfeld brings huge added value to the platform. Even rave reviews for homegrown hits like Stranger Things and The Crown can't keep subscribers committed like comfort binge classics.

SEE ALSO: 'Friends' will hit theaters for 25th anniversary celebration

Coming after the recent shifts for Friends and The Office, this whole episode illustrates just how impermanent the streaming landscape really is. Netflix is locked in with Seinfeld for five years starting in 2021, but will it stick around after that?

It doesn't matter to these companies. Seinfeld can bring new customers into the mix in the here and now, and that's the most important thing for a subscription-based business like Netflix.

Mashable partner.