Just this week, there were seven cancellations at The CW, bringing the network to a whopping 10 cancelled shows for the 2021-22 season.
A source is opening up why the network cancelled so many shows this year after previously cancelling so few shows.
Click inside to read more…
THR explained that in past years, The CW’s parent companies Warner Bros. Television and CBS Studios relied on streaming deals and international sales to off-set the losses at the network. Netflix previously paid $1 billion for the streaming rights to the network’s shows for an eight-year period.
When the Netflix deal ended in 2019, Warners and CBS Studios decided to boosted their streaming platforms HBO Max and Paramount+ with the library.
“Foreign sales, too, have dried up; those rights need to stay in-house as both platforms continue their global expansion in a bid to compete with Netflix et al. in the streaming wars. That’s a loss of billions of dollars in revenue, making shows like Dynasty, for example, no longer profitable,” THR explained. “Without those two revenue streams, and amid new corporate ownership, The CW’s corporate parents are in active sale talks with station group Nexstar and other potential buyers.”
Click through the slideshow to see the 10 shows that were cancelled..
Source: Showbiz PH Insider
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