‘South Park’ creators reach $1.5 billion streaming deal with Paramount

Trey Parker and Matt Stone, the creators of “South Park,” have struck a $1.5 billion deal with Paramount for streaming rights of the beloved show, according to the Los Angeles Times. The deal was completed after tense negotiations between the parties.

The deal, worth $300 million annually for five years, will make “South Park” available on Paramount+, the company’s streaming platform.

The agreement also calls for Parker and Stone’s production company to create 10 new episodes each year.

“South Park” originally aired on Paramount’s Comedy Central. Because Paramount+ was still in development, the company licensed the streaming rights to Warner Bros. Discovery, which offered the show on HBO Max. That deal expired in June.

The Times reports Paramount originally offered Warner Bros. Discovery a chance to co-license the show, but those talks broke down. The goal was to get the deal done before Wednesday, July 23, when the show’s 27^th season premieres on Comedy Central.

Negotiations were complicated by the proposed purchase of Paramount by Skydance. Variety reports Paramount and Parker and Stone originally agreed to a 10-year deal worth $3 billion before Skydance reportedly balked.

The negotiations even pushed back the season 27 debut. Following the announcement of the postponement, the official South Park X account tweeted that “this merger is a s—show and it’s f—— up South Park.”

South Park valuation

Even before this deal, “South Park” was the 18th-highest-grossing television show of all time, trailing such iconic shows as “Seinfeld,” “Breaking Bad” and “The Simpsons.”

Paramount is reportedly also negotiating with Parker and Stone for a new overall deal to keep the show on Comedy Central beyond 2027. The previous deal, signed in 2021, was valued at $900 million.

That 2021 deal funded the main series as well as several made-for-streaming specials on Paramount+.

Paramount in the news

The announcement of the “South Park” deal comes amid criticism of Paramount’s decision to cancel the “The Late Show with Stephen Colbert.” Paramount called the cancellation a “financial decision.”

The New York Post reported the show was losing between $40 million and $50 million each year.  Paramount reportedly pulled in $29 billion in 2024.

President Donald Trump and Colbert have frequently traded barbs, and the president celebrated Colbert’s cancellation on social media. “Go f— yourself,” Colbert responded on air. 

Paramount needs the Trump administration to approve the purchase by Skydance.

Several late-night hosts appeared on Colbert’s show Monday night in solidarity, while Jon Stewart ripped the cancellation on “The Daily Show” on Paramount’s Comedy Central.