Sure, it's nowhere near as established as Netflix (NFLX) - Get Free Report or Disney (DIS) - Get Free Report. But the streamer has seen some success with original programming, from its early series like "The Marvelous Mrs. Maisel" to its far more cynical take on the comic book superhero genre "The Boys". Most recently, the streaming platform hit the IP big time when it produced "Lord of the Rings: Rings of Power".
Meanwhile Netflix had a hit in "Stranger Things", but it has struggled to produce quality, target-hitting content. So the streamer was quick to celebrate the success of a new show with plenty of spin-off potential--"Wednesday" featuring the misanthropic Addams Family. In late November, Netflix reported that the premiere of “Wednesday” broke the streamer’s record for the most-viewed English-language show in a week.
“Wednesday” also holds a lot of promise for future projects. The show features the production talents of Tim Burton, whose signature visual style has been fueling media and merchandise success for three decades. But despite the show's success, it has yet to be renewed for a second season--fueling speculation that a deal between MGM and Amazon could steal the show out from under Netflix's nose.
'Wednesday' Could Be Moving to Amazon Prime
Last March, Amazon closed an $8.5 billion deal to acquire and MGM. The deal made much of MGM's library of films and TV series available through the Prime Video streaming service.
As the deal closed, however, Amazon made clear that it isn’t planning to make all MGM content exclusive to Prime Video. Naturally, one would assume that “Wednesday,” an MGM property, would continue on with Netflix since that’s where the first season premiered.
But an article published by The Independent gave fodder to online speculators who worried about a second season for the show. Perhaps the uncertainty was a response to the latest round of Netflix cancelations, but fans of the show began to wonder whether or not the MGM deal was influencing any season two show announcements,
Details of MGM & Amazon Team-Up Say Otherwise
Netflix has been working to boost streaming numbers. The streaming service has made moves to initiate a "profile transfer" service that aims to cut down on profile sharing and allow longtime users to transfer their profile data to a new account. Netflix has also joined the ranks of other streaming services that are now offering an ad-supported tier to keep its monthly costs competitive in a heavily-saturated streaming market.
So if Netflix were to face the removal of one of its top-viewed shows, the company would be unlikely to let go of the title without a fight. And though a season two of "Wednesday" has yet to be announced, Amazon has said that it doesn't plan to integrate every MGM property into its exclusive library.
If that’s not enough to put a Netflix subscriber’s (or investor’s) mind at ease, a source for IndieWire has said that the deal between Netflix and MGM was forged long before the production company was purchased by Amazon. Neither big-time streaming service has released any official news about the fate of "Wednesday," so for now, those watching the streaming wars from the sidelines will have to wait for an official season two announcement to make any sure calls.