Netflix cancels 'Lockwood & Co.': Understanding streamer's troubling cancellation spree
What's the story
As one of the biggest streaming platforms globally, Netflix has amassed a large following—thanks to its wide range of content libraries. However, the streaming giant, this year, has reportedly canceled more than eight shows, leaving fans disappointed. The latest victim of this trend is Lockwood & Co.—a series that received widespread acclaim from critics and audiences alike. Let's decode why Netflix is canceling shows.
Update
'Lockwood & Co.' canceled after just 1 season
Based on Jonathan Stroud's eponymous book series, Netflix's Lockwood & Co. was released on January 27, 2023, and got canceled just four months after its debut. On Friday, Stroud took to Twitter to announce that Netflix canceled the show after just one season. Notably, the author claimed the series featured in Netflix's global Top 10 charts for three weeks and garnered nearly 80M hours.
Twitter Post
Take a look at Stroud's Twitter post
Some news about Lockwood and Co. I’m very sorry to say it’s not being renewed. Here’s more…
— Jonathan Stroud (@JonathanAStroud) May 12, 2023
⚔️ #LockwoodandCo pic.twitter.com/DXR0TGZuRf
Report
Netflix has canceled an astounding 60 shows since 2016: Reports
As per reports, since 2016, Netflix has canceled over 60 shows just after their debut season. Looking at the year 2022, the streaming platform's list of one-season originals included Blockbuster, First Kill, Partner Track, 1899, and The Midnight Club. This abrupt cancelation of shows was seen this year, too, when Netflix canceled much-talked-about shows, including Sex/Life, Inside Job, Warrior Nun, and Uncoupled, among others.
Speculations
What is behind streamer's cancellation trend?
Netflix faced a challenging time in 2022 when it incurred a loss of more than 1M subscribers. In response, the company reportedly laid off over 400 workers, announced plans to prevent password sharing, and created an ad-supported tier. Despite these measures, Netflix resolved that it will be more selective in its spending (at least $17B in 2023), leading to the cancellation of some shows.
Claims
Netflix's co-CEOs claimed they never canceled successful shows
In an interview with Bloomberg in January, Netflix Co-CEOs Ted Sarandos and Greg Peters claimed that Netflix has "never canceled successful shows." Sarandos suggested that the metric for success is purely financial, stating, "A lot of these shows were well-intended but talk to a very small audience on a very big budget." On the contrary, not all shows canceled by Netflix are costly failures.
Measurement
What is Netflix's metric for measuring original programming?
Netflix lacks a proper metric system—a point of contention among directors and producers over the years. According to Forbes, shows with a lower completion rate—often below 50%—struggle to get renewed. In 2022, despite numerous cancellations, Netflix had five of the Top 10 most-watched English-language TV seasons ever, which included series like Stranger Things 4 and Wednesday, each with over a billion viewing hours.