Steven Spielberg's Jaws franchise included four movies between 1975 and 1987 -- a brand that at the time seemed so ever-present that 1989's Back to the Future Part II famously joked that by 2015 there would be a holographic Jaws 19 playing in theaters.
Why hasn't the Jaws franchise been brought back to life in well over 30 years? That'd be because Spielberg is incredibly protective of the original classic's legacy, at many points over the years promising to never digitally touch it up and also to never allow for it to be remade. And it seems he still feels just as strongly about that decision today as he ever did. So, don't expect Steven Spileberg and Amblin Entertainment's new blockbuster deal with Netflix to include a revival of the Jaws franchise.
According to a story at Deadline, Spielberg didn't reject the idea during talks with Netflix. Rather, he was reportedly approached by Universal (the studio behind the original Jaws films), and gave them a "firm" no, quite some time ago.
Other than the original Jaws getting Blu-ray and 4K releases, as well as being re-released into theaters and of course continually spawning new toys, games, and merchandise, the franchise hasn't even so much as threatened to unleash a new movie all these years. And it sounds like that won't be changing anytime soon.