Contrary to recent rumors, Netflix (NASDAQ:NFLX) did not cancel its original series Orange Is the New Black after just two seasons. In fact, the streaming video giant had already signed up for season three back in May -- before the second season was even released to its subscribers.

Image source: Netflix.

Internet rumors die hard, but this one makes even less sense than most. The slideshow below shows why OITNB has been a big win for Netflix lately by attracting critical praise, glowing media coverage, and new subscribers. But the biggest benefit to the company has been the way original shows like this are changing the brand in the eyes of its customers. No longer dismissed as "rerun TV," Netflix is earning a reputation for quality exclusive content, and Orange Is the New Black is one big reason why.