Why do Netflix and streamers cancel shows after 2-3 seasons even when audiences love them?

The public narrative is always "creative direction" or "viewership." The business reality is different: it's about license fees, backend obligations, and balance sheet optimization.

This episode explains how shows can be profitable for producers but unprofitable for the platform. Cancellation decisions are made by finance, not creative. It's cheaper to launch new IP than pay escalating talent costs.

The takeaway: This signals the shift from audience-building to cost management.

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