As major studios recalibrate their streaming strategies, the second window market for scripted series is experiencing renewed momentum - particularly for titles that first debuted on vertically integrated platforms. Show Tracker reveals that Disney, Paramount, NBCUniversal, and Warner Bros. Discovery are all adapting to different extents, seeking to monetise their content beyond the confines of their own services and capitalise on the appetite of local buyers.
In the US, Netflix and Amazon have emerged as the most frequent second window buyers for studio-owned scripted series. Paramount, in particular, has been licensing high-profile titles such as ‘Yellowjackets’, ‘Your Honor’, and 'American Rust’, all of which debuted on Showtime, to both Netflix and Amazon after their initial runs. Paramount has also licensed CBS hits like ‘Fire Country’ in a similar fashion, illustrating a willingness to extend the life and reach of its content beyond its own platforms, while potentially bringing new audiences back to its services for the latest seasons.
Disney stands out in the UK, where it has become the most active US studio in second window scripted deals. Disney has licensed series that originally streamed as Disney+ exclusives to major local broadcasters and BVOD services, including the BBC, UKTV and ITVX. Notably, these series remain available on Disney+ even as they reach new audiences through partners like ITVX and UKTV—a non-exclusive approach that maximises exposure and revenue. Paramount and NBCU have also participated, with NBCU licensing Sky Originals such as ‘Gangs of London’, ‘Temple’, and ‘Intelligence’ to Netflix in the market.
In Australia, second window activity is currently dominated by Disney and Paramount. Paramount has chosen to license exclusively to Nine Entertainment, primarily its SVOD service Stan, with rare exceptions like ‘Grease: Rise of the Pink Ladies’ going instead to Nine’s BVOD 9Now. Disney, meanwhile, has focused on SBS On Demand, placing titles like ‘The Old Man’ and ‘Under the Banner of Heaven’ there.
With Max having only just launched in Australia and due next year in the UK, there has been limited opportunity for Warner to engage in vertical integration so far. Even where it has, there has been very limited activity elsewhere. The most notable example is ‘Warrior’ which was licensed to Netflix in the second window in Poland, Sweden, and Spain.
While the studios’ second window activity for scripted TV is not yet as prominent as for their theatrical slates, the trend is clearly growing. Local buyers are increasingly open to acquiring second window content, even if it means sharing rights with the studios’ SVOD services, which allows the studios to boost profitability and extend the shelf life of their content.
This pragmatic approach signals a shift: studios are no longer content to keep their best content locked behind their own walls, and buyers are keen to capitalise, suggesting the second window market for scripted series will only become more dynamic in the years ahead.
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