Netflix and AMC Global Media have announced a multi-year global licensing agreement covering every series in The Walking Dead universe. The deal brings the original programme and its six spin-offs together under a co-exclusive streaming arrangement, expanding the franchise’s international availability while allowing AMC to continue offering the titles through its own platforms.
The agreement covers seven series and a total of 371 episodes. Alongside all 11 seasons of The Walking Dead, Netflix will gain rights to 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.
AMC disclosed that the licensing agreement represents fees of $500 million over a five-year licence period for each title, after which the rights will revert to AMC Global Media. Netflix will pay the amount through quarterly cash instalments beginning when the licence for each individual series comes into effect.
The company expects to receive approximately $25 million in 2026, followed by around $100 million annually between 2027 and 2030, with the remaining amount due in 2031. Because of the extended payment structure, AMC expects to recognise approximately $445 million in present-value revenue, including between $200 million and $225 million in both 2026 and 2027.
A broader international destination for the franchise
Netflix has served as the exclusive US streaming home of the original The Walking Dead since 2011. Under the new agreement, the programme will expand into additional Netflix territories, including the UK, Italy, Australia and New Zealand.
Beginning in 2027, the six spin-off series will also start arriving on Netflix globally and on AMC+ in markets where the service is available. The rollout will not take place simultaneously across every territory, as individual licences will begin on different dates following the expiry of AMC’s existing streaming agreements.
The co-exclusive structure means AMC Global Media retains the global right to exhibit every programme in the franchise through its own streaming services. It will also allow all 177 episodes of the original The Walking Dead to become available on AMC+ for the first time in early 2027.
Netflix Vice President of Licensing Lori Conkling said the original series continues to attract new viewers after almost 15 years on the platform, adding that the expanded partnership would make the complete universe accessible to more audiences worldwide.
AMC Global Media CEO Kristin Dolan described the agreement as the creation of a global streaming destination bringing together every series and episode. In the company’s second-quarter results, she also said the deal would provide AMC with a meaningful source of cash flow for several years.
First launched on AMC on 31 October 2010, The Walking Dead ran for 11 seasons and developed into a wider television franchise supported by multiple continuing and limited spin-offs. The new agreement demonstrates how established intellectual property can be licensed to a major global platform without requiring its owner to surrender its role within the direct-to-consumer market.
For AMC Global Media, the arrangement monetises one of its most recognisable assets while preserving its value for AMC+. For Netflix, it delivers a substantial, interconnected catalogue that can be introduced progressively around the world as existing territorial contracts expire.
