Netflix is turning Clue into a reality competition series, transforming the classic board game into a physical and mental challenge show wrapped in iconic characters like Miss Scarlet and Professor Plum. But this isn’t just another unscripted swing. It’s the latest move in an ongoing, high-value partnership between Netflix, Sony, and Hasbro, and a clear execution of the modern IP monetization playbook.
Clue fits right into Netflix’s unscripted strategy: low-risk formats with high brand recognition. Reality is still a volume game, but Netflix is pushing toward scalable franchises — shows that can launch quickly, cross borders, and deliver multiple seasons without reinvention.
With Clue, Netflix doesn’t just get a known brand. It gets a reality format that’s already structurally sound:
- A murder mystery framework
- Clear character archetypes
- Competitive mechanics built into the original game design
No need to build a show from scratch. Just plug and play.
Sony Is Playing the Long Game as Arms Dealer
Clue is just the latest result of a broader strategy from Sony. Without a major streaming platform of its own, Sony has gone all-in on being the most valuable third-party content supplier in the industry.
A key part of that strategy is its multi-billion dollar output deal with Netflix, which gives the streamer first-run rights to Sony’s full theatrical slate in the U.S., plus a first look at original direct-to-streaming films. That deal has already generated more than $1 billion for Sony, fueled by strong Netflix performance from titles like Bullet Train, A Man Called Otto, and Where the Crawdads Sing.
But the real proof point? KPop Demon Hunters.
Sony Pictures Animation developed and produced KPop Demon Hunters, then sold it to Netflix under that 2021 direct-to-platform deal. The movie went on to become Netflix’s most-watched film of all time, with 236 million views and four Billboard Hot 100 hits. It’s now on track to become a multibillion-dollar franchise, and Netflix owns it.
Sony? It reportedly walked away with $20 million.
Sony made a safe, pandemic-era bet. But the outcome made one thing clear: Sony can create hits, but it needs better ways to extract long-term value from its IP. Clue might be a turning point, a deal structured from the start to retain more upside.
Hasbro Is Finally Executing Its IP Yield Strategy
Hasbro, for its part, is moving more deliberately post-eOne. Rather than chasing studio ownership, it’s focused on smart licensing and co-productions that scale its brands without the overhead. You can see it across Monopoly (Lionsgate), Dungeons & Dragons (Paramount), and now Clue at Netflix.
This is exactly the kind of move we’ve outlined in The New Streaming Playbook: Monetize the Hell Out of Your IP. The goal isn’t just visibility. It’s yield – across formats, platforms, consumer products, and even reality TV. The question isn’t who owns the IP. It’s who can extract the most lifetime value from it.
IP exploitation isn’t new. But the difference now is the scale and systemization. Clue isn’t a one-off. It’s a format-first franchise extension built for global distribution, rapid localization, and maximum monetization.
The Streaming Wars Take
Netflix gets a low-risk, high-recognition format that fits squarely into its growing unscripted engine. Sony gets to flex its production muscle on an IP it now has distribution rights to and a chance to structure the deal in its favor. Hasbro continues to turn board games into scalable media properties without having to build or own a platform.This is the new model. The fight isn’t over exclusivity. It’s over yield. And Clue is the kind of project that shows how the new IP playbook can work when the right partners are aligned.
