Over the last few weeks, we have heard that several of Netflix’s most popular shows including Friends and The Office will be leaving Netflix. This is all happening because WarnerMedia and NBCUniversal are both launching their own streaming service.
According to TDG, with half or more of Netflix’s most-viewed shows are owned by Disney, WarnerMedia, and NBCUniversal and could all be leaving Netflix in the years to come. With all three of these companies launching new subscription streaming services in late 2019 or 2020, it could mean that these shows will also be leaving Netflix.
“Netflix’s response to its thinning third-party library is to spend more on originals, which it’s gambling will keep subscribers from jumping ship. But with half or more of its most-viewed shows being owned by three studios, each of which is launching their own DTC services, how long can you convince 55+ million US consumers that your service is worth paying a premium price, especially compared with Hulu (offers an ad-based option), Amazon Prime Video (free with Prime), and Disney+ (coming in a $6.99/month)” TDG said in a statement on their website.
Not all of these shows would necessarily be leaving Netflix. Reportedly, WarnerMedia, for example, paid $425 million to get the rights to add Friends to its new HBO Max service. Other shows like The Office are reportedly not being renewed to Netflix by NBCUniversal.
According to reports, Disney, NBCUniversal, and WarnerMedia all want their content on their streaming services. This could leave Netflix in a tough spot going forward as content deals come up for renewal.
Netflix does have contracts that Disney, NBCUniversal, and WarnerMedia have to honor. That is why we are seeing The Office stay on Netflix until January 2021 even though NBCUniversal’s service will launch in 2020. The question now is when do these contracts come up for renewal and what, if anything, will Netflix keep the rights to?
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