Sony Seeks First-Time Streaming Deal for Jeopardy! and Wheel of Fortune

Sony Pictures Entertainment is seeking a streaming deal for its iconic game shows, “Jeopardy!” and “Wheel of Fortune,” marking the first time these shows will be available for streaming. The aim is to attract a larger and younger audience, as Sony is now reaching out to various media and tech companies for offers on the streaming rights. The company anticipates finalizing an agreement by early April.

The streaming rights for both shows are expected to kick off in September and could last up to three years. Sony’s TV division chairman, Keith Le Goy, highlighted the shift in viewership towards streaming platforms, emphasizing that it’s becoming the preferred method of consuming television content.

Despite their long history on television, with “Jeopardy!” premiering in 1964 and “Wheel of Fortune” in 1975, both shows continue to draw significant audiences, each averaging about seven million viewers per night. However, these audiences are primarily aging, prompting Sony to explore streaming options to tap into a more diverse viewership.

To stay competitive in the rapidly evolving media landscape, Sony is following the lead of other entertainment giants, like the WWE and the NFL, by transitioning these beloved game shows to streaming platforms. By making new episodes available on the winning bidder’s service the day after they air on traditional television, Sony is adapting to changing viewer preferences.

Since taking the helm as Sony’s chief executive, Ravi Ahuja has been exploring ways to bring these timeless shows to streaming platforms. Ahuja recognized the existing popularity and massive viewership of both “Jeopardy!” and “Wheel of Fortune,” seeing an opportunity for further growth in the streaming realm.

Recent changes to the shows, such as Ryan Seacrest taking over as the host of “Wheel of Fortune” and Ken Jennings becoming the full-time host of “Jeopardy!” in 2023, demonstrate Sony’s commitment to refreshing and modernizing these iconic programs for a new era of entertainment. The company has also revamped sets and technology for both shows, introducing new features like green screens and monitors.

Despite facing distribution rights disputes with CBS, Sony remains focused on expanding the reach of these syndicated game shows. With a combined total of 425 syndicated episodes produced each year and a substantial ad revenue of $175 million in the previous year, the popularity and financial success of “Jeopardy!” and “Wheel of Fortune” are undeniable.