During its 10-season run from 1994 until 2004, “Friends” was among television’s biggest shows.
That popularity allowed all six members of the cast — Jennifer Aniston, Matt LeBlanc, Lisa Kudrow, David Schwimmer, Courteney Cox and the late Matthew Perry — to negotiate a deal that paid each of them a staggering $1 million per episode for the final two seasons.
That, however, was only part of their overall deal; as it turned out, another agreement the six actors made during that time, combined with the enduring popularity of the show on streaming, continues to bring them millions in earnings each year — more than two decades after the series ended.
Negotiating Strength
By 2000, “Friends” had become a TV juggernaut. Defying conventional wisdom — most TV series hit a ratings peak and then gradually decline — the Central Perk Six had become more popular than ever.
At that point, “Friends” had transcended being just a hit sitcom, but was a pop culture phenomenon that catapulted its stars to movie stardom.
All six actors chose to negotiate together as a unified block, which gave them increased leverage in negotiations.
That, reported USA Today, granted them something that no television actor had ever achieved before: a small percentage of the backend profits for “Friends” when it entered syndication.
A TV First
Typically, backend points were only given to a series’ creators and producers — not its stars.
The six “Friends” stars, however, broke the mold by negotiating a groundbreaking deal that granted them 2% of every penny that its studio, Warner Bros., earned from the show.
As Forbes pointed out, the show remains a staple in syndication. Meanwhile, the world of streaming also gave the show a whole new life. When “Friends” debuted on Netflix back in 2015, a sitcom that had been off the air for more than a decade suddenly began topping the streamer’s most-watched lists.
By 2021 “Friends” had generated more than $1.4 billion in profits. Due to that small 2% cut, each of the six actors continues to rake in their fraction of those profits — bringing them an estimated $20 million per year.
The Gift That Keeps on Giving
Interviewed by The Times in April 2026, Kudrow confirmed that she and her co-stars split a $20-million dividend each year, thanks to the ongoing popularity of “Friends.”
When asked why the show has remained such a cultural touchstone, more than 35 years after it premiered, she joked, “Because Phoebe Buffay was so great?”
According to Kudrow, the passing of Perry in 2024 spurred her to take another look at the show, which she hadn’t watched since it initially aired on NBC.
“After Matthew died I watched the show again,” Kudrow told the Times.
“Before, I only saw what I did wrong or could have done better,” she explained. “But for the first time I truly appreciated just how great it was. I felt I did okay, but Jennifer and Courteney? Amazing. David and Matt? They had me laughing so hard. And then Matthew — he was just beyond us all.”
