Netflix Is Building Its Own Franchises After Losing Harry Potter — Here's the Plan

Netflix's New Franchise Strategy

After losing its bid for Warner Bros Discovery's Harry Potter franchise in 2026, Netflix has made its intentions crystal clear: instead of buying existing IP, it's building its own culture-defining franchises from scratch. And the early results are already impressive.

The New Flagship Properties

Stranger Things may have wrapped, but its successor is already in development. The Duffer Brothers' The Boroughs — a new supernatural series from the creators — has been described as a spiritual successor with an entirely fresh cast and setting. Early reports suggest it has the same small-town mystery vibes that made Stranger Things a global phenomenon.

Squid Game continues to be Netflix's most valuable franchise. Season 2 broke records, and Season 3 is already in production. Creator Hwang Dong-hyuk has expanded the universe with prequels and spinoffs, building what could become Netflix's answer to the MCU in terms of interconnected storytelling.

The streaming giant has also invested heavily in Bridgerton, which continues to dominate the period drama category with its diverse casting and modern soundtrack approach. Shonda Rhimes' Shondaland production company has multiple spinoffs in development, creating a shared universe set in Regency-era London.

Beyond the Hits

Netflix's strategy extends to genre-building. If Wishes Could Kill — the youth horror drama starring Jeon So-young and Kang Mi-na — represents Netflix's push into K-content that can spawn multiple seasons and international adaptations. The show's blend of high school drama and supernatural horror has resonated with Gen Z audiences worldwide.

The streamer is also banking on Lord of the Flies, a fresh adaptation of William Golding's classic novel that's been reimagined for a modern audience. The brutal, survival-focused storytelling has earned strong reviews and high viewership numbers since its May 2026 debut.

Meanwhile, the Deion Sanders documentary and the upcoming Spotify video podcast integration (announced in late 2025) show Netflix's strategy of diversifying content types — not just scripted entertainment, but real-life storytelling and personality-driven programming.

The Bottom Line

Netflix's post-Harry Potter strategy is about volume, variety, and vertical integration. By owning its franchises outright, the streamer controls the entire value chain — from production to merchandising to theme park deals. It's a bold bet, and the early signs suggest it's paying off.