Netflix is also rethinking its franchises and recently introduced new divisions to help its effort.
Analysts say it could have major implications for the theater and movie business.
The biggest media companies are rethinking how they approach franchise building.
The coronavirus pandemic has accelerated legacy media s push into streaming and as Disney, WarnerMedia, and more look to build their own direct-to-consumer platforms while movie theaters struggle, they ve begun to tap into their libraries of intellectual property.
The ramifications will be felt throughout the entertainment business long after the pandemic, as blockbuster franchises increasingly become cross-platform affairs. There s a trend of world building and expanding IPs into something that s cross platform, said Shawn Robbins, the chief analyst at Box Office Pro. It will be a major advantage for both [theatrical and streaming].
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Netflix recently introduced new teams to help it build bigger franchises: a franchise-TV division and an event/spectacle-TV division.
Franchises will be essential for Netflix as Disney Plus looks to release at least 10 new Star Wars and 10 new Marvel TV shows in the next few years.
Data from Parrot Analytics shows Disney s WandaVision is already a hit.
Netflix announced in its earnings report this week that it had reached a pivotal milestone in its streaming dominance, passing 200 million subscribers worldwide.
Netflix s push into franchise TV will be essential as Disney Plus prepares a barrage of Marvel and Star Wars shows yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.