Wicked: For Good joins Netflix on July 20, 2026, the sequel to Jon M. Chu’s 2024 musical that grossed over $700 million worldwide. The film wraps up the Wicked story on Netflix after a controversial initial run on Peacock.

Cynthia Erivo, Ariana Grande, Jeff Goldblum, and Jonathan Bailey return to finish the story that began on Broadway fifty years ago.

The Licensing Split

Universal and Netflix made a deal: all Universal theatrical releases get a second streaming window on Netflix after their Peacock run. Wicked: For Good is the first big title under this arrangement.

But the original Wicked film stays on Peacock. Fans who want the full story need both subscriptions. It’s a tangle that no one is happy with, but it’s the deal the studios made.

The Sequels Problem

Wicked: For Good faced mixed reviews when it hit theaters in November 2025. Critics said it overran its runtime and undersold the emotional beats. But audiences showed up. Some sequels are inevitable anyway.

The film hits Netflix at a moment when the musical genre is fatigued. Wicked has the brand to survive that. Jon M. Chu’s visual storytelling usually carries weight in streaming formats.

What It Means

Netflix gets a prestige title. Universal gets a second theatrical window before a massive streaming audience. The complexity of licensing modern films is on full display.

Splitting sequels across streaming services is a short-term win with long-term audience frustration.