Netflix Looks To Capitalize On Jenna Ortega-Starrer 'Wednesday' Popularity With Potential Spinoff

Streaming giant Netflix Inc. NFLX has been exploring a spinoff of its hit series "Wednesday," a move that underscores the increasing emphasis on franchise-based content in the streaming industry.

What Happened: Netflix initiated talks for a second "Wednesday" season, which featured Jenna Ortega in the lead role, just weeks after its premiere in November. The series, which draws from The Addams Family characters, quickly climbed to become Netflix’s premier English-language show, racking up over 250 million views in the last year and continuing to draw viewers this year, reported Bloomberg. 

Before planning the second season, Netflix has already broached the idea of another Addams Family series centered on Uncle Fester. However, the realization of this series is dependent on several factors including story development, contract discussions, and scheduling.

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Netflix, buoyed by the success of "Wednesday," aims to launch a series of Addams Family shows. The streaming platform reportedly has the support of Amazon.com Inc. AMZN, which secured The Addams Family rights through its acquisition of MGM and now produces the show under this banner.

In the footsteps of successful original series like "House of Cards" and "Stranger Things," Netflix is focusing on creating more sequels, prequels, and reboots centered on established intellectual property. 

This includes possible TV series based on the action-movie franchise "Extraction," and two spinoffs of the widely-watched show "Peaky Blinders."

Why It Matters: This pivot towards franchise-based content is not unique to Netflix, the report noted.  

Major streaming platforms and networks are also expanding their portfolios with numerous spinoffs, prequels, and sequels of existing series. HBO, for example, known for its original storytelling, is now developing spinoffs of "Game of Thrones" and a "Sex and the City" sequel.

Meanwhile, last week, it was reported that the children’s series "Cocomelon" gained an impressive 600 million hours of watch time, surpassing "Stranger Things."

Former U.S. President Barack Obama and ex-First Lady Michelle Obama's "Leave the World Behind," has also been getting massive traction, making it a Netflix chart-topper and another feather on their caps.

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