Netflix (NFLX - Free Report) recently canceled Marvel TV show Luke Cage, which is now headed to its rival platform Amazon (AMZN - Free Report) Prime.
Notably, Cheo Hodari Coker, creator and showrunner of Luke Cage, signed a TV development deal with Amazon Studios. Reportedly, he will develop and produce content for Prime through his Entertainment brand, Fighting 99th.
Netflix – Disney Clash
The third season of Luke Cage could not come to life on Netflix owing to some creative differences between Netflix, Marvel, and the shows creatives. Notably, Luke Cage’s first two seasons saw tremendous success with Netflix and garnered huge interest from fans, almost causing the site to crash.
But we believe that Netflix’s decision to cancel the show and remove other Marvel content from its platform involves greater business interests. Notably, Disney (DIS - Free Report) announced the termination of distribution agreement with Netflix, starting 2019. This is because Disney is gearing up to launch its own direct to consumer streaming service in 2019.
Netflix, which first canceled the Marvel series Iron Fist, followed it up by canceling another Marvel show, Daredevil. Notably, the remaining Marvel series on Netflix are Jessica Jones and The Punisher.
Further, Netflix is poaching top executives and other key talent from Disney, which has intensified tensions between the two companies. Netflix recently hired Disney owned ABC executive Channing Dungey, prior to hiring Christie Fleischer, also a former Disney executive.
Netflix also hired other key talents like Shonda Rhimes, Kenya Barris and Tendo Nagenda who earlier worked at Disney/ABC.
Netflix, Inc. Revenue (TTM)