Suits has remained a huge success for Netflix since it launched on the streaming platform, breaking viewership numbers.
Owned and licensed by the USA Network, the legal drama, featuring former actress and former Duchess of Sussex Meghan Markle, spent 12 weeks on Netflix’s streaming charts, topping Ozark’s record.
‘SUITS’ has become the first ever series to cross 3 billion minutes viewed over 7 weeks in a row, according to Nielsen.
Due to Netflix refusing to make a fair deal with SAG and WGA, those involved in ‘SUITS’ will receive little to no streaming residuals for their work. pic.twitter.com/ckVQyTzrzX
— DiscussingFilm (@DiscussingFilm) September 7, 2023
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“This legal drama originally premiered on USA Network in 2011 and ran until 2019. Despite having been available on other streaming services, the debut of seasons one to eight on Netflix in July broke viewing records,” it noted in its results.
“Licensing has always been an important part of our programming strategy. As the competitive environment evolves, we may have increased opportunities to license more hit titles to complement our original programming. We believe this will deliver additional value for our members (i.e., engagement), as well as for rights holders who benefit from the increased awareness and revenue that Netflix delivers, in addition to the new life that success on Netflix can drive,” it added.
“We can’t make everything but we can help you find just about anything,” said Netflix Co-CEO Ted Sarandos.
https://twitter.com/JayFaerber/status/1692547040792973753
Streaming competitors like Hulu have apparently taken a similar approach to licensing rights on TV shows from cable networks like Burn Notice, shown above.
This business move comes after Netflix made plans to raise its ad-free streaming plan prices in “a few months” after the SAG-AFTRA actors and WGA writers’ strike came to an end, a couple of weeks ago. Unions and streaming platforms have yet to come to a finalized agreement.
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