According to a new Luminate report, older titles from library catalogs—rather than fresh originals—are driving the majority of viewing hours on every major streaming service except Netflix in Q1 2026.
Comfort shows such as Friends and Suits continue to serve as key retention anchors.
Netflix remains the outlier, with original and licensed content nearly matching catalog performance. The company has invested $135 billion in content over the past decade, while competitors have scaled back. Even so, Netflix’s output has grown less original overall, mirroring a broader industry shift toward proven, older material.
This backward-looking pattern aligns with the wider “2026 is the new 2016” nostalgia wave seen across music, advertising, branding, and social media. The Luminate analysis suggests the trend is more than a fleeting meme and has firmly taken root in TV and film streaming habits.
The reliance on catalog content comes even as the theatrical market enjoys a strong rebound. Hollywood is on pace for its best domestic box office year since before the pandemic, potentially topping $10 billion, fueled by hits including The Super Mario Galaxy Movie, Michael, and Toy Story 5, plus a robust second-half slate.
Yet challenges persist: inconsistent superhero results (highlighted by the latest Supergirl underperformance), questions over whether audiences have reached “peak sequel,” and the growing popularity of low-budget indie horrors. These factors are making it harder for studios to predict guaranteed theatrical winners, pushing streaming executives toward the safer, if less innovative, strategy of mining the back catalog.