‘Yellowstone’ and ‘Landman’ Creator Taylor Sheridan Leaving Paramount+ for NBCUniversal and Peacock

Nearly every popular Paramount+ original series comes from the mind of one man: “Yellowstone” creator Taylor Sheridan. Since his breakthrough drama made Paramount Network a must-have TV channel, Sheridan has cranked out hit after hit for Paramount+. But Sheridan is signing a new deal with Peacock owner NBCUniversal. It’s about as big a defection as you can imagine in the streaming universe.

Sheridan has been the mind behind a string of hits on Paramount+: “Landman,” “Special Ops: Lioness,” “Mayor of Kingstown,” and “Tulsa King.” There are also the “Yellowstone” prequel series “1883” and “1923.”

The Sheridan formula is simple. Grab movie stars past their primes and put them in soap operas for dads, where the know-it-all heroes get to dispense folksy right-wing talking points to sniveling cowards. And there are guns.

In a cataclysmic blunder, Paramount failed to secure the streaming rights to “Yellowstone,” so Peacock got streaming rights for the new seasons after they wrapped up on Paramount Network. The show was an enormous hit for Peacock and it drove subscriptions. That was all NBCUniversal needed to open their wallet. (Considering how much money Paramount Skydance CEO David Ellison is burning through, it’s shocking he didn’t start throwing gold bars at Sheridan.)

The move won’t happen immediately. Puck reports Sheridan’s new deal begins with movies for NBCUniversal next year. Sheridan’s TV output is locked to Paramount through 2028.

Sheridan wrote the excellent films “Sicario” and “Hell or High Water.”

What Will Happen to Sheridan’s Paramount+ Shows?

For guidance, we can look at another powerhouse creator, Shonda Rhimes. Rhimes rocketed to stardom with the debut of “Grey’s Anatomy” for ABC in 2005. She also created ABC hits like “Private Practice” and “Scandal.” In 2017, Rhimes signed an exclusive deal with Netflix, which resulted in the hit show “Bridgerton.”

“Grey’s Anatomy” is still churning out new episodes, so Paramount could continue riding its franchises long after Sheridan focuses on new work for a new company. Sheridan also can’t take his “Yellowstone” franchise to Peacock. His Paramount series will remain Paramount series.

Will This Deal Help Peacock Fly?

I haven’t seen a single Peacock original series that makes it worth subscribing. “The Traitors” is fun, but it’s the kind of thing you can binge with a free trial, not something that will keep you streaming for a full year. I thought “The Paper” was a strange attempt to reverse-engineer “The Office,” and its brief moments of originality felt stifled by the need to “Jim-and-Pam” too many characters.

Peacock needs help, and Sheridan can deliver a new audience.

But there’s a very big caveat. Sheridan is known to be a diva.

“I spent the first 37 years of my life compromising,” Sheridan said in a 2023 Hollywood Reporter profile. “When I quit acting, I decided that I am going to tell my stories my way, period. If you don’t want me to tell them, fine. Give them back and I’ll find someone who does — or I won’t, and then I’ll read them in some freaking dinner theater. But I won’t compromise. There is no compromising.”

That same article suggests Paramount is spending $500 million a year making Sheridan’s shows, so Peacock better buckle up.

Time will tell if Sheridan’s deal moves the needle for Peacock and NBC. Will they allow Sheridan’s characters to curse? Can there be nudity? Where will the mega-corp draw the line and what happens if Sheridan fights back? NBCUniversal is a rigid company, and one not used to giving a creator the freedom Sheridan seems to expect.

As for Shonda Rhimes, her Netflix output has been strong, but “Bridgerton” was the only runaway hit. It’s hard to capture lightning in a bottle. Maybe Sheridan has a still-untold story that surpasses “Yellowstone.” And his track record says we shouldn’t bet against him. But even the most promising springs sometimes run dry.