CBS(CBS) - Get Report is turning to Netflix(NFLX) - Get Report , the company arguably most responsible for the industry's latest bout of turmoil, to distribute its prized new series Star Trek in 188 countries around the world.
Each episode of the new series will be available on Netflix outside the U.S. within 24 hours of its U.S. premiere on CBS All-Access, the network's online streaming service that costs $5.99 per month.
By year's end, both US and international Star Trek fans will be able to view all 727 of original episodes of the gloriously famous series that debuted in 1966. Netflix, which is scheduled to release its second-quarter earnings after the close of trading on Monday, was climbing 1% to $99.33 while CBS was slipping 1.6% $54.98.
Netflix's deal with CBS to carry Star Trek could also help the streaming platform in its efforts to add subscribers outside of the U.S.
In April, the company startled investors when it forecast weakening subscriber growth in the second quarter. Netflix said at the time that it expected to add two million new international viewers in the quarter. That estimate fell well short of analysts' estimates along with a similar projection that domestic customers was on track to increase by 500,000.
Netflix is also under pressure to increase the number of feature films it licenses, said Jim Cramer, founder of TheStreet.
"They haven't been able to launch successfully the big screen movies," said Cramer, adding that it's "very important" for Netflix to increase subscribers. "If there's a big screen movie that people talk about, that could be another reason to subscribe."
For CBS, Netflix has access to an international digital distribution platform that rivals most every media company on earth. In order for CBS to show Star Trek digitally in 188 countries, it would have to obtain a bevy of programming right and build the app to distribute it digitally while maneuvering payment systems in dozens of countries.
"It's a lot harder than it sounds," Deana Myers of SNL Financial said in a phone interview.
CBS' strength internationally is its popular content, specifically in crime shows such as NCIS and Criminal Minds. "That's really helped with revenues on that international side because the domestic market syndication is not as strong as it used to be," Myers added.
CBS declined to further comment Netflix was not available for comment.
The jury is still out as to the benefits of licencing their content to Netflix. Media executives are torn when it comes to whether or not licensing to Netflix is a kiss of death for their companies. Chris Albrecht, CEO of premier TV network Starz (STRZA) , told investors in 2014 that networks were selling themselves short in licensing content to Netflix. Starz terminated its contract with Netflix in 2012.
CBS, which had formerly been on the fence about extending its contract with Netflix, must not have such a cynical world view. Reports earlier this year indicated that CBS was considering terminating its CW shows off of Netflix when their contract is up, according to Bloomberg. However, earlier this month the companies announced that Netflix would remain the exclusive U.S. subscription television service for The CW.
The strategy is a move of necessity, said Lawrence Meyers, CEO of PDL Financial who spent spent 12 years in the television industry. Overall, these licensing deals may be more beneficial to Netflix than anyone else for retaining subscribers, he said.
"They are burning through cash," Meyers said. "And streaming Star Trek won't be the make or break reason if users decide to dispose of Netflix."