Netflix is restructuring its original films and documentaries division, which led to the resignations of Lisa Nishimura, head of documentaries and low-budget films, and Ian Bricke, vice president of the films group. Executives leave streaming after more than 10 years in the company.
It’s worth mentioning that the executives’ departure comes after Netflix founder Reed Hastings also stepped down as CEO of the company in January, which has shifted the industry. He follows only as an adviser.
Since last year, with the significant loss of subscribers, Netflix has been trying to recover and strengthen its presence in the streaming market, where competition has grown a lot in recent years. In one of its moves to gain momentum (and subscribers), the company announced a crackdown on password sharing. He detailed how it works here.
The streaming giant also cut the prices of its subscription plans in some countries in February as it tries to maintain subscriber growth.
Last year, already under restructuring, Netflix joined the list of companies making significant layoffs; the platform has laid off at least 450 employees.
“These changes are mostly driven by business needs rather than individual performance, which makes it special. We are working hard to support you through this very difficult transition.”, explained Netflix at the time.
Via Reuters and Bloomberg
The Netflix post heralds the departure of two more streaming CEOs who first appeared on Olhar Digital.
Source: Olhar Digital
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
