Netflix is planning to adopt a “franchise strategy” so that it can make movies and shows with universes. The company wants to use its characters again and again much like other franchises. The company wants its own version of popular franchises like Star Wars or Harry Potter, and it can uses its upcoming live-action adaptations of One Piece and Avatar: The Last Airbender for it. Speaking to Reuters, Netflix vice president Matthew Thunell said:
Netflix lost one million subscribers in the second quarter of 2022. It even plans to introduce cheaper plans with advertisements on the streaming site to attract more subscribers. This was something that the streaming platform was vehemently against before, but it seems like times are dire.
Going back to franchises, some Netflix partners told Reuters that it is difficult to collaborate between the film and television departments of Netflix. This makes it hard to have a franchise with sequels, spin-offs, and such.
However, Thunell said that the different teams do work towards the same goal, even if their projects are independently greenlit.
After the success of Stranger Things, Netflix has a spin-off series and a stage play planned. The company said it is planning to do the same with “at least a dozen series and films.” Live-action adaptations based on One Piece and Avatar: The Last Airbender will come out on Netflix soon and the company is expected to create franchises around them to capitalise on the success.
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