Netflix has long talked about franchise ambitions and has been collecting IP to bolster those efforts, including acquiring Roald Dahl Story Company. As for Gerwig, Narnia continues a trajectory towards bigger-budget filmmaking and a penchant for adaptation.
Similar Topic: Here are most of 'Paddington 3' Cast Members
Previous to Netflix having the rights to The Chronicles of Narnia content, In 2005 and 2008, Disney made adaptations of the novels The Lion, the Witch and the Wardrobe and Prince Caspian respectively. In 2010, Fox released The Voyage of the Dawn Treader.
Source: The Hollywood Reporter