Source: Simon Owens's Media Newsletter
Netflix has begun licensing established YouTubers' back catalogs, and early performance data shows creators aren't losing viewers to the Netflix versions—audiences exist in parallel rather than shifting wholesale. This validates a specific consumer behavior: people follow creators across platforms rather than platforms, meaning a YouTuber's loyal audience will watch their content on Netflix without it becoming a substitute for their YouTube channel. For creators, this opens a new revenue stream without the cannibal risk that studios have long feared, though it does raise questions about whether Netflix is simply repurposing existing fan relationships rather than building new ones.