Netflix is developing new 'Chronicles of Narnia' movies and TV shows

  • Netflix announced Wednesday that it's developing movies and TV shows based on C.S. Lewis' fantasy book series, "The Chronicles of Narnia."
  • Disney released three movies based on the books in 2005, 2008, and 2010, which wavered at the box office after the first movie, "The Lion, the Witch, and the Wardrobe."
  • But Netflix's deal is just the latest effort from a streaming company to develop big-budget fantasy titles.

Netflix announced Wednesday that it's developing movies and TV shows based on C.S. Lewis' classic-fantasy book series, "The Chronicles of Narnia."

Netflix said that it will develop the titles under a new multi-year deal between Netflix and The C.S. Lewis Company, marking the first time that a company has held the rights to all seven books.

"It is wonderful to know that folks from all over are looking forward to seeing more of Narnia, and that the advances in production and distribution technology have made it possible for us to make Narnian adventures come to life all over the world," said Douglas Gresham, stepson of C.S. Lewis, in a statement. "Netflix seems to be the very best medium with which to achieve this aim, and I am looking forward to working with them towards this goal."

Disney released three movies based on the books in 2005, 2008, and 2010. The first, "The Lion, the Witch, and the Wardrobe" made $745 million worldwide. The second, "Prince Caspian," grossed $419 million worldwide. And the third, "The Voyage of the Dawn Treader," made $415 million, according to figures from Box Office Mojo.

After the first movie, Disney's adaptations wavered at the box office. A fourth film, "The Silver Chair," which director Joe Johnston ("Captain America: The First Avenger") was attached to direct, never saw the light of day.

But the Netflix deal could signal a battle of big-budget fantasy titles in the streaming wars. HBO is developing a prequel to its hit series "Game of Thrones," Amazon bought the rights to the "Lord of the Rings" series in a major $250 million deal, and Showtime is developing a series based on the popular video-game franchise, "Halo."