TV in 3: Netflix Licensing Spree, Decoded; WBD Cable Strategy
The dominant streamer is bulking up its library with some unexpected shows. Why?
I interviewed Universal’s book guru Jordan Moblo about the battle for IP, wrote about the resurgence of traditional pilots, and interviewed the Bell Media execs who bet on breakout hit Heated Rivalry. I’m lesley.goldberg@theankler.com
Welcome back to TV in 3, my take on the industry’s latest. Today, I’m looking at how Netflix is bulking up with two big waves of licensing deals with Warner Bros. Discovery and Paramount. I’m also following the latest updates in the evolution of cable as TBS makes a rare programming buy that may signal more of what its future (and those of its sibling brands) might look like. These deals may not be landscape-shifting a la the current wave of M&A, but they’re all pieces to a larger puzzle that helps explain how the industry is working in 2026.
And I wrap things up this week with a plea to you, dear reader. See below.
Netflix Bulks Up Library Offerings
Netflix revealed in its fourth-quarter earnings this week that it is licensing 20 shows from Paramount, including a Taylor Sheridan original. A full list of titles has not yet been made available, and no one is commenting, but included in the deal are current CBS dramas Matlock and Watson, Paramount+ original Mayor of Kingstown and library titles SEAL Team and syndication favorite The King of Queens. It’s unclear when any of the library titles will arrive, how long they’ll remain on Netflix or if any of them will be exclusive to the platform.
What makes this interesting is not only the timing — coming as the Ellisons continue to challenge Netflix for Warner Bros. Discovery’s massive library — but that there’s a Sheridan show included here, too. Kingstown is the lowest-rated of all the Sheridan series, and Netflix’s pickup comes as Paramount+ already announced an abbreviated final season of the Jeremy Renner vehicle as the prolific creator’s days atop the Skydance-owned mountain are now numbered. What’s more, Watson was one of only two scripted originals left off CBS’ annual early renewal announcement this week as the Morris Chestnut-led drama is the network’s lowest-rated scripted series this season.
So, what’s the strategy? I have some answers.