The titles with the most licensing power available from the major studios are in the comedy genre, at 25%, according to Ampere Analysis’ recent report.
After four years in which the significant studios saved their original content for exclusivity on their platforms, 2024 looms as a year in which cross-licensing deals could take hold, according to research published by research firm Ampere Analysis. The report indicated that Disney would have the most significant potential for licensable content versus its closest rivals.
In its study, Ampere Analysis noted that titles with “licensing power” meet the following criteria: they have completed their first cycle, have at least three seasons, are scripted, are U.S.-based, and maintain consumer interest as measured by Ampere’s popularity score.
By this criterion, Disney has the largest number of titles with licensing power, 148 of which were still exclusive to its streaming services as of December 2023, more than double the licensing potential of any other major Hollywood studio.
32% of Disney’s identified title pipeline is children’s and family content, making this genre a significant contributor to Disney’s leadership with titles such as Malcolm in the Middle and Hannah Montana.
Paramount Global has 72 licensable titles in its catalog, including Hawaii Five-0 and Star Trek: The Next Generation. According to Ampere’s analysis, Warner Bros. Discovery has 54 licensable titles, including The Sopranos and The Wire, and NBCUniversal has 47, including The Office and Law & Order: Criminal Intent.
The titles with the most licensing power available to studios are in the comedy genre, 25%, according to Ampere’s report. This is due to continued U.S. audience interest in several long-running local comedies. Many of these ended their run some time ago (such as The Office, The Golden Girls, and Seinfeld), but others are more recent hits (such as Brooklyn Nine-Nine).
Ampere stressed, however, that “not all of the titles identified with licensing power will necessarily be cross-licensed.” For example, six of the 20 most popular titles in Paramount Global’s vault are part of the Star Trek franchise.
Second-window successes
What happened with the success of Suits on Netflix has been widely noted in Hollywood and on Wall Street. “Several recent examples of titles that have experienced a huge surge in popularity after airing in a second window suggest that studios should look for licensing partners (such as NBCUniversal’s Suits on Netflix) with the largest user base and the least audience overlap,” Ampere wrote.
Ampere’s consumption data shows that 44% of viewers who did not watch Disney+ in the previous month did watch Netflix, making it the most-used platform among this cohort, followed by Amazon and Hulu. These three platforms also top the list among viewers who did not watch other significant networks, such as Discovery+, Max, Paramount+, and Peacock.
However, AVOD platforms Tubi and Pluto TV trail Netflix, Amazon, and Hulu as the most watched streaming services among viewers who did not watch Disney+. At 16% for Tubi and 15% for Pluto TV, they rank ahead of Max, Paramount+ and Peacock.
Rahul Patel, research director at Ampere Analysis, said they expect more licensing deals for high-profile titles between the significant VOD providers by 2024. “Studios’ strategies will need to carefully balance exclusivity and non-exclusivity to ensure their streaming offerings are distinct and compelling while maximizing the value of their content as it moves to a second window,” said.
