There was a whole lot of devastating news yesterday. Netflix finally ended its relationship with Marvel TV, pulling the plug on both The Punisher and Jessica Jones. Both shows were the last two remaining New York City superhero series that Netflix had left on the site after the streaming company canceled Daredevil, Luke Cage, and Iron Fist last year. Now, the only question left is why. Why in the world did Netflix decide to chop off all of its Marvel TV series? Was it the network's fault? Was it Marvel?
A new report by The Hollywood Reporter explains why everything in the Marvel Netflix universe fell apart. Surprise, surprise, The Punisher, Jessica Jones, Daredevil, Luke Cage, Iron Fist – all these shows were canceled because of the money. The shows had steep licensing costs coming from ABC Studios, Disney's network.
"Put simply: Netflix did not have an ownership stake in any of its Marvel TV series. Each of the six Marvel shows was owned by Disney. Netflix paid ABC Studios a (steep) licensing fee for each season of its respective series," the publication explained.
Netflix also had to think about its own future. While the shows were in a way popular among fans, third-party analytics proved that each show was losing viewers season after season. The streaming giant probably couldn't cover the loss.
Not only that, but Netflix knew that Disney was going to pull its content out in preparation for its upcoming streaming site, Disney+. Why would Netflix want to hold on to shows that were losing the company money and would ultimately make its way back to Disney?
As heartbreaking as it is, Netflix made its decision for the benefit of the company. Hopefully, all of Marvel TV's Netflix series find a new home, either in Hulu or in Disney+.
Read: The Punisher's Ben Barnes Reacts to Series' Cancellation
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