Scripps Networks Interactive will not renew its distribution agreement with subscription video service Netflix.
“We assessed the SVOD universe and have made the strategic decision not to extend our SVOD agreement with Netflix past the end of this year,” said Jablin. “In the end, it really is not the kind of dual revenue model that best monetises our content over the long term.”
Scripps and Netflix struck a licensing deal in October 2014 that allowed the SVOD service to offer its subs seasons of shows including Man V. Food and Chopped, but these will now become unavailable.
“If you look at where the industry is going and tracking, we just see a lot of opportunities with the dual revenue stream model,” said Scripps CEO Kenneth Lowe. “We have such compelling content for advertisers that we just don’t want to really cut ourselves off from any opportunity.
“Having said all of that, we gained a lot of internal knowledge on the digital side and on the best way to monetise this content, including the further expansion and development of our digital sales team.”
Scripps owns Travel Channel, HGTV, Food Network and DIY among others, making it one of the largest producers and distributors of lifestyle programming internationally.