Netflix has made a name for itself as the exclusive home for its original series like “The Queen’s Gambit,” “Stranger Things” and “Firefly Lane.” But in what could be a major departure in strategy, the streaming giant in recent months has explored licensing some of its movies and series to other TV outlets owned by companies like NBCUniversal and ViacomCBS, say people familiar with the situation.

The discussions indicate how Netflix, long the 800-pound gorilla in the streaming market, may be more open than previously thought to a decades-old way of making money from its programming—basically selling shows to a variety of media outlets to be aired at different time periods. This approach emphasized limited availability, unlike the streaming strategy of making every program available all the time for the price of the subscription. The streaming strategy in recent years has undermined the long-term value of programming, eroding the profitability of Hollywood.