The year 2013 was a pivotal one for Netflix (NASDAQ:NFLX). That’s when the on-demand streaming service debuted House of Cards, its first-ever original series. It was a smart move: Though creating original content was sure to be more expensive than licensing an existing show, Netflix would reap long-term savings by dealing with itself rather than continually renegotiating streaming deals with other content creators.
The strategy only became more important as Netflix’s streaming competition grew. The arrival of major media companies in the space has made licensed content harder to get. While Netflix was once home to Star Wars and Avengers movies, those are now exclusive to Walt Disney‘s on-demand streaming platform, Disney+. Netflix’s original content has to carry a heavier load now that the company is losing huge shows like The Office, which is headed off to the Comcast-backed streaming service Peacock. In meeting these