Issa Rae's eight-figure deal grants HBO, HBO Max and Warner Bros. television exclusive rights to Rae's work in TV and a first-look film deal.

Issa Rae and HBO are continuing their partnership. On Wednesday, HBO publicly announced Rae inked a new five-year overall deal, according to Variety. 

Hoorae, Rae’s media label is now officially in partnership with WarnerMedia. Additionally, HBO, HBO Max, and Warner Bros. television now have rights to Rae’s work in TV and a first-look film deal. Back in 2016, Rae signed a two-year overall deal with HBO before Insecure premiered. In 2018, she renewed that same deal for three more years. 

Variety sources say the new deal is valued at $40 million over five years. This reportedly puts Rae in line with David Glover’s recently announced deal with Amazon. 

On the groundbreaking news, Rae shared: “It’s really exciting to have that flexibility and just deepen the relationship that we already have.” She added, “Hoorae already had at least 15 projects in various stages of development with them, so we’d been working with them on the drama side, the unscripted side, and the documentaries side for a couple years now.”

HBO and HBO Max Chief Content Officer, Casey Bloys expresses why this deal is a step in the right direction for the brand:

 “We have been in business with Issa for more than eight years, and we couldn’t be prouder of our collaboration. Insecure was a breakthrough series for HBO, and there is much more on the horizon. This new deal is an opportunity to leverage the strength of WarnerMedia to provide a multitude of platforms for Issa’s formidable talent as a producer and storyteller. 

Bloys also noted that Insecure has broadened HBO’s audience based on the diverse, young cast and creatives affiliated with the show. Since he’s taken the helm at HBO, he’s noticed the comedy is one of the first show subscribers tune into when they sign up. “Insecure always scores very high when it’s on and I think that says a lot about the fan base, that she’s telling a story that a lot of people want to hear,” Bloys said.

Rae’s ongoing projects include the fifth and final season of Insecure, and the second season of the Emmy-nominated A Black Lady Sketch Show. Previously announced HBO Originals that are in the works include The Vanishing Half, Nice White Parents and the docu-series Seen and Heard.