Scripps Networks Interactive announced this week that it will not renew its contract with Netflix when it expires at the end of 2016.
The Knoxville, Tenn.-based company owns a number of popular cable brands, including Food Network, HGTV, and Travel Channel. That means we’ll have to say goodbye to some of our bingeable Netflix favorites, such as “Chopped,” “Fixer Upper,” and “House Hunters.”
The decision comes after Scripps revealed its better than expected third-quarter results, thanks to a strong U.S. television advertising market.
Scripps chairman, president and CEO Kenneth Lowe said the “strategic decision” to leave Netflix came about “because the arrangement does not provide the kind of dual revenue model that Scripps feels best monetizes its content,” per the Hollywood Reporter.
Shares of Netflix were reportedly low late Tuesday morning after Lowe’s announcement.
Scripps began streaming its shows on Netflix in 2014. They were available on Amazon before that.
And its streaming days may not be over. FierceCable reported Scripps will join ABC/Disney, NBCUniversal, and Viacom on AT&T’s DirecTV Now video service when it launches later this year. DirecTV Now will cost $35 a month.