After WBD Setback, Netflix Shifts Focus To Original Franchises!

The streaming wars have entered a new phase where scale alone is no longer enough. Platforms are now racing to build lasting franchises that can rival decade-old Hollywood libraries. For Netflix, that shift has become more urgent as competition increases and growth begins to slow.

 

TL;DR

 

• Netflix is now building its own franchises after missing out on Warner Bros. Discovery.
• Big-budget misses show that creating long-lasting hits isn’t easy.
• Upcoming titles like The Chronicles of Narnia and Scooby-Doo are central to its next big move.

After failing to secure Warner Bros. Discovery’s vast catalog, Netflix is now focusing on creating its own long-lasting franchises that prove both necessary and difficult.

Chief Creative Officer Bela Bajaria said the company remains focused on developing original stories while also collaborating with established studios. “To me, that's just continually the goal,” Bajaria said in an interview.

The abandoned $72 billion bid for Warner Bros., which would have brought major properties like Harry Potter and Game of Thrones under Netflix’s umbrella, exposed a key gap. Unlike legacy studios such as Disney or Universal, Netflix lacks a century-deep library of recognizable intellectual property.

Instead, the company is trying to build franchises from scratch. It has seen success with titles like Stranger Things, Wednesday, and Bridgerton, the latter expanded into multiple seasons, a spin-off, and even a live touring experience.

Still, not every bet has paid off. High-profile projects like The Electric State, a $320 million sci-fi film starring Millie Bobby Brown and Chris Pratt, failed to resonate with critics and audiences. Plans for sequels or spin-offs were quietly dropped.

“A lot of people have big movies that also are IP that don't work. We're in the film and TV business, so a lot of things work, a lot of things don't work,” Bajaria said.

The challenge lies in consistency. Franchises are valuable because they reduce risk and open doors to merchandise, spin-offs, and global fan engagement. Yet, building them requires repeat success, something Netflix has struggled to achieve at scale.

There have been bright spots. Squid Game became a global phenomenon, while the animated film KPop Demon Hunters unexpectedly turned into the platform’s most-watched movie ever. Netflix is now expanding it into a broader franchise with toys, branded meals, and a planned sequel though it initially missed merchandising opportunities due to cautious partners.
 
At the same time, growth pressures are mounting. Engagement rose just 2% in late 2025, and revenue growth is slowing. Meanwhile, YouTube and Disney have consistently outpaced Netflix in overall TV viewing share since late 2024.

Looking ahead, Netflix is blending original storytelling with familiar properties. Upcoming releases include a Narnia film directed by Greta Gerwig and a live-action Scooby-Doo series, alongside new seasons of Bridgerton and One Piece.

With fewer major studios available as content suppliers and competition tightening, Netflix appears committed to going it alone, betting that its global reach and data-driven approach can still turn fresh ideas into cultural mainstays.