• by Wayne Friedman , Staff Writer, 3 hours ago

Senior-level executive exits at Netflix are still reverberating.

What comes next? Think really big branded long-term content -- on all screens.

Although the big streamer has been impacted by weakening daily viewer engagement issues, it has the financial wherewithal to raise its game a step further.

This is going against some of the modern thinking out there about Netflix: It’s not really about video podcasts, microdramas, or vertical short videos -- or real head-to-head competition with YouTube.

Yes, those are good to have. But think about the big picture that still pulls in massive viewing, theatergoers, and even theme park consumers.

It's about major film brand franchises. Prized intellectual property (IP) for those businesses that legacy movie/TV studios still count on.

Think about Marvel Cinematic Universe, “Star Wars”, Pixar, Lucasfilm content for Walt Disney; Universal’s “Jurassic World” and “Fast & Furious”; Warner Bros. Discovery DC Universe, Harry Potter movies; Paramount’s “Mission: Impossible"; and Sony Pictures’ Spider-Man Universe.

Despite challenging efforts around linear TV, this is where the legacy Hollywood continues to thrive.

That might be why some analysts wonder whether Netflix missed out on its “nice-to-have” potential purchase of Warner Bros. Discovery, which would have included its massive film and TV library as well.

What then remains for Netflix is to continue its next step, to find ways to get there. This may be the acquisition of a major movie/TV studio (or a mini-major studio) -- Lionsgate or Sony Pictures -- not only to gain access to those franchises/libraries, but to expand on that content.

Think about the longtime CEO of Walt Disney Bob Iger, and what he was able to do in acquiring Pixar Animation Studios, Marvel Cinematic Universe, and Lucasfilm. He built on those properties and let the creatives at Disney do their thing.

Netflix needs to do its own version of this -- with new movie and TV content that broadly resonates with consumers over the long term, establishing big branded names with films and TV shows.

This may seem counter-intuitive to its current main business -- streaming.

How would mostly strong theatrical-based films (and TV content) work with Netflix’s main streaming focus?

Well, that is just the point. It needs to find a way to increase that awareness.

And this doesn’t just come with shorter, YouTube-like content such as microdramas and podcasts.

The really big theatrical blockbuster movies are driven by younger entertainment consumers, which can pull in hundreds of millions of dollars -- even $1 billion in global box-office revenue. Those are the same consumers who also are heavy users of their small smartphone screens.

Recently, Netflix has increasingly been making its mark on live events, sports and entertainment -- an important step for the company in recent years, thanks to its departing chief content officer, Bela Bajaria.

But now it needs the next wave of so-called "buzzy" franchise TV and film brands -- on the biggest of screens -- in front of all consumers.