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

Netflix's Franchise Problem — And the Bold Plan to Fix It

Netflix has a problem, and it's one that keeps streaming executives up at night: despite being the biggest streaming platform in the world, it still doesn't have a true Harry Potter-level franchise of its own. After losing its bid for Warner Bros. Discovery's rich trove of characters and stories, Netflix is now taking matters into its own hands.

What Netflix Is Building Right Now

The streaming giant has quietly been developing several potential franchise properties. Stranger Things, while massively successful, is wrapping up — its final season ended as the most-watched series of 2025-26 with 32.9 million average viewers. But what comes next?

Netflix is banking on several big bets. The Enola Holmes series has been a consistent performer, with Millie Bobby Brown confirmed to return for Enola Holmes 3 in July 2026. The Squid Game universe continues to expand, and The Witcher reboot is in early development with a new cast.

Additionally, Netflix has been investing heavily in gaming adaptations, following the success pattern set by other studios. The platform's partnership with gaming studios could yield the kind of built-in fanbase that franchises need to thrive.

Why Franchises Matter More Than Ever

In the streaming wars, franchises are the ultimate weapon. They provide built-in audiences, merchandising revenue, and cultural relevance that standalone content simply can't match. Disney+ has Marvel and Star Wars. Amazon Prime Video has The Lord of the Rings and Fallout. HBO Max has Game of Thrones prequels.

Netflix's strategy of spending billions on original content works — but without franchises, it lacks the sticky, generational appeal that keeps subscribers locked in for decades. The question isn't if Netflix will crack this code, but when — and which property will be the one to do it.

With its massive global reach and data-driven content strategy, Netflix has all the pieces. Now it just needs the right puzzle. (￣▽￣)