On Monday, Netflix (NASDAQ:NFLX) announced that it has taken out an exclusive license to stream complete seasons of several serialized dramas developed by Warner Bros. Television. In addition to current and upcoming series Revolution, The Following, Longmire, Political Animals, and 666 Park Avenue, Netflix will have access to longer-running hits such as Chuck, Fringe, and The West Wing.

In addition to the eight shows named, the parties noted that "potential future shows" are also covered by the agreement. Financial aspects of the licensing agreement, however, were not disclosed, and it is not clear how the price of Netflix's license might be affected by the addition of such "potential future shows."

Nonetheless, shares of Netflix rose in reaction to the announcement, closing up 3.4% at $99.20. 

Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Netflix. The Motley Fool owns shares of Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.