Seasonal or franchise hubs provide opportunities to present library content through brand-sponsored packages, such as Food Network content during the holiday season, or a collection of DC series and movies during the launch of a new installment, such as the recently launched show “The Penguin,” Gould said.
Much of streaming viewership is devoted to rewatching library content, a behavior that streamers lean into. Marketers from top platforms have previously told Ad Age that flashy new releases are important for drawing new subscribers in, but vast content libraries are critical for keeping them paying by filling time between new shows, which in the world of streaming can be pricey and far between.
In the first half of the year, five of Netflix’s top 10 most-watched series (when combining all seasons) were licensed shows, including “Young Sheldon,” “Suits” and “Brooklyn Nine-Nine,” according to a recent Bloomberg newsletter. More recently, shows from AMC Networks, including “Dark Winds” and “A Discovery of Witches,” have taken a portion of Nielsen’s weekly top-streamed shows after being licensed to Netflix.
While licensing shows to Netflix can be lucrative, it could hurt media companies’ ability to find new subscribers on their platforms. Exclusively streaming “Friends” is a valuable pitch to potential Max subscribers, so boosting ad revenue around it at key times, such as the anniversary, is meaningful as media companies seek ways to close the gap between their linear and streaming businesses.
While WBD will always sell “run-of-Max and media-by-the-pound offerings ... the more that we can really be thoughtful of brands and aligning with the right content and weaving those brands into the fabric of the experience, we feel like those efforts are worth it in market, because they’ll pay off in the short, mid and long term,” Gould said.