Wednesday – Picture: Netflix

One of Netflix’s biggest hits has been making headlines in recent days with speculation that it may not return to Netflix for a second season and instead «go away.»

On December 2, the independent published a report (which was cited by NME, HITC, Metro, and Giant Freakin Robot) suggesting that because MGM Television has a new owner, Wednesday season 2 could leave the service for Prime Video.

His reasoning behind the headline is that Amazon bought MGM, so any new season could go to Prime Video.

Having spoken to multiple experts and industry sources, this report is based on pure speculation, not actual evidence, and the ball is in Netflix’s court, not Amazon’s.

A source tells us that Amazon could terminate the contract early, but it wouldn’t be easy.

Our understanding of how this works is that Netflix essentially owns the «option» on the title for a fixed period of time, which means that Netflix has ultimate control over the future of the series for the foreseeable future. Our information suggests that if the show isn’t renewed for a season 2, Netflix is ​​holding on to season 1 for ten years after its release (meaning it will air until 2032).

This applies to all «rented IPs» to some degree, whether they be the likes of The Sandman of Warner Bros. Television or orange is the new black from Lionsgate Television.

The only time in Netflix history that we’ve seen a Netflix original pulled is with Disney buying back the rights to Reckless, The Punisher, Jessica Jones, luke cage, Y the defenders early as part of a “Early Termination of Content License” which cost the company over a billion dollars (if not more given that the shows ended prematurely).

MGM Television also works on Netflix Vikings: Valhalla, which returns in January 2023 for season 2 and has been renewed for a third season as part of an initial pre-order.

MGM Television also works with a handful of other distributors besides Netflix. For example, continue working on The Handmaid’s Tale for Hulu.

When Wednesday season 2 will be renewed is more a question of when than if with Netflix’s head of US and Canadian scripted series Peter Friedlander saying variety last month that he was «optimistic» about his chances of renewal.

Netflix did not provide comments for this article.