These two sitcoms never streamed in full until HBO Max paid $1.5B for them

In the heat of the streaming wars, two of television’s most reliably funny multi-camera comedies managed to dodge full-series streaming—until HBO swooped in. When HBO Max burst onto the scene in May 2020, it needed must-have marquee content to lure subscribers away from Netflix and Disney+ during pandemic lockdowns. So in 2019, HBO Max splurged a staggering $1.5 billion to secure The Big Bang Theory and Two and a Half Men, marking the first time audiences could binge these runs from start to finish on a single platform.

Before that marquee deal, die-hard fans scrambled between syndication reruns, cable catch‑up apps, and region‑locked Netflix windows to piece together seasons, but the full runs remained frustratingly fragmented. That gamble not only underscored HBO’s network muscle but also Chuck Lorre’s drawing power, with The Big Bang Theory averaging over 17 million live weekly viewers by series end and Two and a Half Men raking in billions in syndication revenue.

HBO paid $1.5 billion to stream The Big Bang Theory and Two and a Half Men

In August 2019, as WarnerMedia prepared to launch its deep‑pocketed streamer, insiders reported HBO Max was negotiating a blockbuster deal to acquire Chuck Lorre’s two flagship comedies for a jaw‑dropping $1.5 billion. Neither the 12‑season, 279‑episode saga of The Big Bang Theory nor the 12‑season, 262‑episode run of Two and a Half Men had ever premiered in full on any streaming service before, thanks to tangled CBS syndication and regional licensing rights.

The exclusive five‑year domestic streaming window granted HBO Max sole access through 2025, ensuring that competing platforms would be locked out of the network’s highest‑rated content for the foreseeable future. WarnerMedia’s bet hinged on the shows’ proven track records—The Big Bang Theory was a Nielsen juggernaut, routinely delivering upwards of 19 million viewers in its prime, while Two and a Half Men consistently topped summer rerun charts on basic cable.

By bundling these fan‑favorite franchises alongside staples like Friends and new Max originals, HBO hoped to differentiate its network in an oversaturated streaming landscape. The result was a one‑stop comedy destination that finally allowed binge‑watching marathons without the patchwork of catch‑up apps.

After the deal: Subscriber growth, viewership, and HBO’s reign

The impact was immediate: by year’s end 2020, HBO Max subscriptions soared to 17.2 million—two years ahead of AT&T’s projections—fueled in part by the allure of streaming must‑see shows without seasonal gaps. Industry analysts even noted that The Big Bang Theory’s addition was a major driver of early growth, positioning Max as a go‑to comedy hub.

Viewing metrics also painted a rosy picture: according to Nielsen’s streaming content ratings, The Big Bang Theory regularly ranked among the top ten most‑streamed programs in the U.S., logging over 728 million minutes viewed in a single week in early 2025.

Two and a Half Men didn’t trail far behind, climbing into the platform’s top 15 during high‑traffic weekends and driving consistent engagement spikes during crossover promotions with new Max comedies. On a global scale, Max has since amassed more than 117 million paid memberships, solidifying HBO’s position as a powerhouse in the streaming network hierarchy.

The shows also reignited syndication revenue streams for Warner Bros. Television, as renewed interest in catch‑up viewing translated into higher ad rates on traditional cable re‑airings. That dual boost, subscriber count, and time‑on‑platform validated the $1.5 billion gamble as more than just a prestige play.

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Ultimately, HBO’s $1.5 billion investment turned two beloved network comedies into streaming tentpoles, proving that high‑stakes content acquisitions can reshape viewing habits and fortify a platform’s library. With full‑series streaming now non‑negotiable, HBO Max has raised the bar for the show's future licensing deals.

Jasmine is a journalist for Primetimer

She graduated with a B.A. in English Literature from Sophia College in Mumbai, where she had the unique opportunity to publish research in social science and media.

Jasmine holds more than three years of experience including an ex-Founder's role at a digital marketing agency called 'Very Weird'. Additionally, she also had stints as a journalist at GrowMeOrganic and Scatter Content. She also worked in the Social Media Management team for beauty and wellness brands, Green Maven and Yoga House Mumbai.

Jasmine is a strict follower of ethics in journalism and stays updated with industry developments in order to improve her craft. She is committed to presenting diverse perspectives, which enriches her storytelling and enhances the relevance of her articles in today’s dynamic media landscape.