Greg Berlanti Signs Massive Six-Year Renewal Pact With Warner Bros. TV – Valued at More Than $300 Million
Greg Berlanti has signed a groundbreaking new production pact with Warner Bros. Television Group that will keep the prolific showrunner on the Burbank lot through 2024.
The deal is valued at well above $300 million over its six-year term, and could rise to as much as $400 million given the hefty guarantees Berlanti and his company will realize on future shows.
Keeping Berlanti in the fold was crucial for Warner Bros. TV, as the producer is the engine behind so much of the studio’s scripted production activity. Netflix made headlines earlier this year in setting a nine-figure pact with uber-showrunner Ryan Murphy that has been valued at upwards of $250 million over five years.
Berlanti Productions
Berlanti Productions has yet to field a big-time syndication hit — the kind of show that delivers enormous windfall for profit participants. But he has generated a volume that left him with a portfolio of stakes in smaller shows that will deliver a steady stream of profits over time.
The deal covers television only, leaving Berlanti as a free agent in film. In addition to all of his TV work, Berlanti is active as a film writer, director, and producer. He’s just coming off the critical success of coming-of-age comedy Love, Simon, which 20th Century Fox released earlier this year.
Berlanti and his team did not make the rounds of other studios and platforms before renewing their vows with Warner Bros. TV. Sources close to the situation say Berlanti, who is known for his loyalty to friends and colleagues, had no interest in moving from his longtime studio home.
Reactions
Belanti’s statement to this warms our hearts as he said:
I’m incredibly grateful to Peter Roth, Kevin Tsujihara, Craig Hunegs, Susan Rovner & Brett Paul and everyone else here at Warner Bros. who has provided me with such a wonderful home to tell stories for many years — and now many years to come.
A lot has changed about TV since I started working in it 20 years ago, but what hasn’t changed is how blessed I feel to come to work every day, where I work with the most talented, hardest-working company, executives, showrunners, actors, writers, directors, casts and crews in the business. I’m eternally grateful to all of them and to the audiences that have watched our shows. And finally, I’m thankful for the love, guidance and support I get from my husband, my family and my friends, which make moments like this one possible and all the moments in between the real reward.
Warner Bros. stated the following:
We could not be more excited to extend our partnership with Greg Berlanti, a true giant in the television industry,” said Roth. “Greg has been integral to our success since his return in 2011, and we look forward to continuing our collaboration with him and the entire Berlanti Productions team.
Those are amazing news for our dear Greg Belanti. Let us know your thoughts in the comments below.
