There can be multiple reasons. The series could be made with equipment made for movies and thus use the wider ratio. It can also be an artistic choice; for example it can be used to give a “movie vibe” to the series, or to constrain the perspective (if you make a series with, say, dinosaurs, the wider format won’t be able to frame them entirely, making them appear bigger. On the other hand, you may want to use a more balanced ratio if your dinosaurs are supposed to be a mundane thing, so that you can see them more easily).
TL;Dr : can be purely technical, can be a deliberate artistic choice
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