NBC is reclaiming The Office. In a Twitter post, Netflix confirmed it would be losing the hit show in a couple of years, reinforcing an announcement made by NBCUniversal yesterday that said it would be taking the sitcom back once its contract with Netflix is up in 2021.
It's a major loss for Netflix considering reports that The Office is its number one show and that competition from other streaming platforms is growing. Netflix has also lost a bunch of its Marvel content due to the impending launch of Disney+. In the same vein, NBC is taking back The Office because it is readying its own streaming service.
"The Office has become a staple of pop-culture and is a rare gem whose relevance continues to grow at a time when fans have more entertainment choices than ever before," chairman of NBCUniversal direct-to-consumer and digital enterprises Bonnie Hammer said in a statement obtained by Variety. "We can’t wait to welcome the gang from Dunder Mifflin to NBCUniversal’s new streaming service."