Netflix has evolved from a basic TV and movie streaming service to a full-fledged media network. The company previously outbid HBO, Showtime and AMC for the Kevin Spacey-led drama House of Cards and was recently the exclusive home of Arrested Development’s highly anticipated fourth season. Along with its original content, a vast library of TV shows and movies, and the ability to resurrect cancelled shows, Netflix has even saved TV shows from getting the ax from traditional networks.
[More from BGR: iOS 7 beta 3: Full change log released]
As noted by The Wall Street Journal, the company stepped in after AMC cancelled its TV crime drama “The Killing.” Netflix signed a deal with Fox Television Studios, the show’s producer, that gave it the service exclusive streaming rights in the U.S. and Canada beginning three months after the season finale. The revenue generated from the Netflix deal allowed Fox to charge AMC a lower licensing fee, which eventually led to The Killing being renewed.
[More from BGR: iOS 7 beta 3 now available for iPhone, iPad and iPod touch]
As Netflix pushes boundaries in an increasing number of new areas, the company’s stock continues to soar to new heights. Shares of Netflix closed at $233.07 on Monday, up 184% on-year.
This article was originally published on BGR.com
- Arts & Entertainment