What Happened to Netflix Lionsgate Power Series Licensing Deal (2026)?

The 'Netflix Lionsgate Power Series Deal' refers to a significant licensing agreement announced on July 27, 2026, that dramatically expands the availability of the popular 'Power' franchise on Netflix. Historically, the original 'Power' series, created by Courtney A. Kemp and Curtis '50 Cent' Jackson, aired on Starz in the US and had varying international distribution, including next-day drops on Netflix UK for some seasons. However, as Starz (then part of Lionsgate+) focused on building its own international streaming footprint, the licensing rights for 'Power' on Netflix UK expired in August 2023, leading to the show's removal from the service in those regions.

A key turning point enabling this new deal was the corporate separation of Lionsgate and Starz in May 2025. This split allowed Lionsgate Television, which produces the 'Power' franchise, greater flexibility in licensing its content. Lionsgate's broader strategy, articulated in March 2026, involves leveraging its extensive content library and intellectual property for long-tail licensing across various distribution channels, aiming for high-margin growth as a pure-play content studio. This strategic shift directly paved the way for the comprehensive Netflix agreement.

Under the terms of the July 2026 deal, Netflix US will become the domestic streaming home for all six seasons of the original 'Power' series, which will move from Hulu in November 2026. This marks the first time the flagship series will be available on Netflix in the United States. For international markets (excluding Canada), Netflix has secured non-exclusive rights to 'Power' and its first three spin-offs: 'Power Book II: Ghost', 'Power Book III: Raising Kanan', and 'Power Book IV: Force'. These series will begin streaming globally on Netflix in November 2026, with exact dates potentially varying by region due to existing local agreements.

Despite this expansive deal, Starz will maintain its position as the exclusive US streaming home for all 'Power' spin-offs. Furthermore, upcoming 'Power' universe offshoots, such as 'Power: Origins' and 'Power: Legacy', are not included in this current Netflix licensing agreement, remaining with Starz. The consequences of this deal are significant for both companies: Netflix gains a highly popular and proven crime drama franchise, potentially attracting new subscribers and re-engaging former ones, especially in the US where the original series has a strong following. For Lionsgate, it represents a substantial monetization of its valuable IP, aligning with its post-Starz separation strategy to maximize content licensing revenue. The deal also highlights the evolving landscape of streaming, where even vertically integrated studios like Starz (formerly with Lionsgate) are increasingly open to licensing content to major competitors like Netflix to maximize reach and revenue.

As of July 27, 2026, the deal is confirmed and set to commence in November 2026. While Netflix had previously denied rumors of a potential acquisition of Lionsgate in June 2026, this licensing agreement demonstrates a strong content partnership between the two entities. The 'Power' universe continues to be a cornerstone franchise for Starz, with new spin-offs like 'Power: Origins' and 'Power: Legacy' planned for 2027 and beyond, ensuring its continued presence on its original network.