‘Suits’ craze sparks Netflix's spending power on licensed titles

After the groundbreaking success of Suits, Netflix has found its golden goose: more licensed content.

In the third quarter earnings statement, the streamer said it will spend more on licensed content.

“As the competitive environment evolves, we may have increased opportunities to license more hit titles to complement our original programming,” the statement continued.

It added, “We believe this will deliver additional value for our members (i.e., engagement), as well as for rights holders who benefit from the increased awareness and revenue that Netflix delivers, in addition to the new life that success on Netflix can drive.”

Ended in 2019 after a run of nine seasons on USA Network, the legal drama debuted in June on the Netflix US. Then, the records chart broke on the streamer. 

Now, the show holds the title of twice most streamed acquired program and has topped Nielsen’s top 10 rankings for weeks.

Apart from Suits, the hit sitcoms, including Friends and The Office, have been a staple of major viewership for the streamer—however; Netflix does not hold their title license any longer.