“Dangerous!” And “Wheel of Fortune” is heading for a streaming deal for the first time as owner Sony Pictures Entertainment is looking for a larger, younger audience.
On Thursday, Sony said it is seeking bids from major media and tech companies for streaming rights for new episodes of the two long-term series. According to the New York Times.
The parent company is in talks with several streaming services and expects to win deals by early April, according to the report.
Sony said streaming rights for the two popular game shows could begin in September and last for three years.
“The world is changing around us,” Keith Le Goy, chairman of Sony's television division, told The Times. “Streaming consumption is currently overtaking the consumption of other forms of television distribution.”
Sony did not respond immediately to requests to post comments.
“Danger!” And, despite premiering decades ago, “Wheel of Fortune” continues to gain massive viewers, along with host Art Fleming in 1964 and Chuck Woolly in 1975, respectively.
According to Nielsen, the two game shows each portray approximately 7 million viewers per night.
But their audience, along with other classic television mainstays, are getting older and smaller.
Sony is trying to grow its audience base, mimicking the same tactics that sports giants like WWE signed contracts to stream “WWE Raw” last year.
Meanwhile, the NFL streamed Thursday's game on Amazon Prime, and the Super Bowl was streamed for the first time this year on the free service Tubi.
Also, the awards show, which attracts large audiences on traditional television, writes its own streaming deal. For example, Oscar will live stream on Hulu for the first time on Sunday.
New episodes of “Jeopardy!” And, according to the Times, “Wheel of Fortune” will be streamed to the successful bidder's service the day after it airs on Syndicate TV.
Same-day rights to new episodes will be available in September 2028 when existing syndication transactions expire, the report says.
Laviahuja, who took the helm as Sony's CEO last month, said he has been brainstorming ways to move shows to streaming since joining the company four years ago.
“People are running around town looking for intellectual property,” Ahuja told The Times.
“When I got here, it was the 'Lucky Wheel' and 'Jeopardy!” proverb assets, visibly hidden. There was a full awareness of the large audience and passionate fanbase in this country. All of that pointed to a great opportunity for more growth,” he added.
Sony has overhauled two shows as they prepare to pivot for streaming.
Ryan Seacrest, known for his popular radio show and role hosting “American Idol,” replaced longtime host Pat Sajac last year on “Wheel of Fortune.”
SeaCrest has signed a deal to reach the early 2030s to help the show move to streaming.
Ken Jennings holds the longest winning streak in “Jeopardy!” He won 74 wins and became a full-time host in 2023.
Sony has revamped the sets and technology for both shows, including new green screens and monitors.
Meanwhile, Sony has been caught up in a month-long battle with CBS over distribution rights for the two syndicate shows.
“Jopardi!” “Wheel of Fortune” generates 425 syndicated episodes a year. This helps streaming services retain subscribers who watch the show regularly.
According to data company guidelines, the show totaled $175 million in advertising revenue last year.
