According to media reports, due to factors such as lagging user growth and increasing competition, Netflix’s feature film division will try to cut back on filming. The streamer has shed 150 employees so far this year, as it has suffered subscriber losses and stock declines.
It is reported that Netflix wants to focus on making bigger and better movies and slow down the release frequency, that is, “bigger, better, less”.
The success of “Don’t Look Up” “Red Notice” “The Adam Project” several big-budget films made Netflix decide to reduce the production and distribution of small and medium cost and art films.
An insider said: “Low-budget films are not going away, but they may become more niche, catering to an enthusiastic audience.”
In the coming weeks, Netflix will also hold meetings with producers and directors about scale and genre, according to media reports.
In any case, the era of “only money and no production” Netflix’s rapid growth is over, and there will be fewer and fewer things like spending $170 million on “The Irishman”.
Related Post: Will ten years without ads be a thing of the past? Netflix CEO Ted Sarandos reveals the reason.
