Netflix looking into Wednesday spinoffs and more shows based on existing IPs
Playing it safe.
As the 'streaming wars' heat up and companies begin making safer bets to offset financial woes, we might be looking at the start of the franchise era of the streaming business. This means both looking into more adaptations of works from other media and doubling down on the original properties which have already worked out, and Netflix is leading the charge.
Bloomberg's latest newsletter examined the recent developments, dropping some interesting new tidbits too. Chief among them is the report that Netflix is looking into developing Wednesday spinoffs on top of season 2 of their most-watched English-language show of all time. With production on the second season held back by the recent strikes and Jenna Ortega's other commitments, "the company has also started talking about another Addams Family program, one built around Uncle Fester, played on the series by Fred Armisen." This potential new project is far from locked down, but Netflix's intentions are clear: Wednesday was incredibly big for them, and they plan to capitalize on that as soon and intensely as possible.
Such a move also makes sense to keep the Wednesday hype going even after Ortega decides to move on or simply is too expensive to keep around, a common occurrence with big-name actors several seasons in. Mind you, Netflix has yet to start shooting season 2, but the company is looking far into the future here, as its main portfolio of shows has to remain attractive for subscribers after Stranger Things ends with season 5. The 'Hollywood-ization' of Netflix includes plans for spinoffs (either in movie or series form) built around Extraction, The Witcher, Money Heist, Peaky Blinders, Stranger Things, and Army of the Dead, among others.
From a creative point of view, such news aren't too comforting, as the big streamers appear to be doomed to repeat the same wins and failures of the traditional Hollywood studios, but maybe that was the cycle meant to be repeated all along. Netflix and other platforms have, however, been useful for filmmakers looking to make movies and shows that didn't fit the theatrical market's demands, even if signing deals with them also meant dooming certain works to get lost in a deep sea of content after the first month or so.
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