Think about the biggest Netflix shows of the last few years.
Stranger Things.
Wednesday.
One Piece.
These aren’t just TV series anymore.
They’re T-shirts.
Shoes.
LEGO sets.
Video games.
Theme park attractions.
Energy drinks.
Backpacks.
Halloween costumes.
At some point…
You stop asking whether you’re watching a show…
Or a brand.
And that’s exactly what’s happening inside Netflix.
For years, everyone thought the company renewed series based on one thing.
Views.
More viewers?
Another season.
Fewer viewers?
Cancellation.
Simple.
Except…
That’s no longer the whole story.
Take Stranger Things.
Since 2020, the franchise has reportedly generated more than $1 billion in revenue.
But here’s the surprising part.
A huge share of that money didn’t come from Netflix subscriptions alone.
It came from merchandise, licensing deals, collaborations and consumer products.
In other words…
The series stopped being just entertainment.
It became a business ecosystem.
And that changes everything.
Because imagine you’re a Netflix executive choosing between two shows.
The first attracts 20 million viewers.
Everyone loves it.
But once the season ends…
That’s it.
No merchandise.
No games.
No products.
No brand partnerships.
The second attracts slightly fewer viewers.
But it has unforgettable characters.
Iconic costumes.
Recognizable symbols.
Fans who buy hoodies, action figures and collectibles.
Which one creates more value over five years?
Suddenly…
Audience numbers aren’t the only thing that matters.
Welcome to the era of the « tentpole franchise. »
A story designed not only to succeed on screen…
But to live everywhere else.
That’s why Netflix increasingly looks for universes rather than one-hit wonders.
A world people can revisit.
Characters people can dress like.
Objects people want to collect.
Think about One Piece.
It’s not just an anime.
Or a live-action series.
It’s toys.
Clothing.
Games.
Events.
Collaborations.
A universe that keeps generating revenue long after the credits roll.
The same logic explains why superhero movies dominated Hollywood for so many years.
Batman wasn’t valuable because of one film.
Batman was valuable because you could build an entire business around him.
Netflix has learned that lesson.
Today…
The biggest success isn’t always the show everyone watches once.
It’s the show people keep buying long after they’ve finished watching.
That’s also why some critically acclaimed series disappear after one season.
Fans often ask,
« Why would Netflix cancel such a great show? »
The answer isn’t always that people didn’t watch it.
Sometimes…
The universe simply wasn’t expandable.
No collectibles.
No licensing opportunities.
No products.
No franchise.
It sounds cold.
But that’s how modern entertainment works.
Streaming platforms aren’t just competing for your attention anymore.
They’re competing for a place in your everyday life.
Your wardrobe.
Your bedroom.
Your gaming console.
Your social media feed.
Because if a series becomes part of your identity…
You’re much more likely to stay connected to it.
Maybe that’s the biggest transformation of streaming.
Netflix used to measure success in hours watched.
Today…
It increasingly measures success in how long a story can keep making money after you’ve stopped watching it.
And maybe that’s why your favorite series suddenly has sneakers…
A pop-up store…
A Monopoly edition…
And its own breakfast cereal.
Because the episode was never the final product.
It was the beginning of the business.
The real question is…
If streaming platforms now choose stories based on the worlds they can sell—not just the stories they can tell—are we entering an era where the next global hit is designed first as a franchise… and only then as a TV series?
