Netflix pushes for new franchises after missing Harry Potter
Netflix is intensifying its search for long-lasting entertainment franchises after failing to secure a major deal for Warner Bros. Discovery assets, including iconic titles like Harry Potter and Game of Thrones.
After losing out on a potential $72 billion deal that would have significantly expanded its content library, Netflix is now focusing on creating its own franchises from scratch, News.Az reports, citing Reuters.
Chief Content Officer Bela Bajaria said the company will continue investing in original ideas while also collaborating with major studios to produce long-running film and TV universes.
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Successful examples include:
- Stranger Things
- Wednesday
- Bridgerton
These shows have evolved beyond streaming into spin-offs, merchandise, and live experiences.
Unlike legacy studios such as The Walt Disney Company or Universal Pictures, Netflix lacks a century-old catalog of recognizable characters.
This makes building new intellectual property riskier and more expensive.
Some efforts have struggled, including:
- The Electric State — a costly sci-fi project that failed to launch a wider universe
- A $700 million acquisition of Roald Dahl’s catalog, which has yet to produce a major breakout hit
Despite challenges, Netflix has also scored major global successes:
- Squid Game became a worldwide phenomenon
- Extraction evolved into a multi-film franchise
- KPop Demon Hunters emerged as a surprise hit, now being expanded into merchandise and potential sequels
However, the company admitted it was initially unprepared to capitalize on the success of “KPop Demon Hunters,” missing key merchandising opportunities.
Netflix is betting on a mix of original content and familiar IP to build future franchises. Upcoming projects include:
- A new The Chronicles of Narnia adaptation
- A live-action Scooby-Doo series
- Expansions of existing hits like One Piece
Franchises are crucial in today’s competitive streaming landscape because they:
- Reduce financial risk
- Attract loyal audiences
- Generate additional revenue (merchandise, events, spin-offs)
With competitors like YouTube and The Walt Disney Company leading in viewership, Netflix faces growing pressure to create its own cultural phenomena.
By Aysel Mammadzada
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