A meeting with Netflix shareholders revealed that streaming is changing its schedule when it comes to producing original films. According to The Hollywood reporterthe company plans to slow down the pace of development, spacing more time between films, but ensuring larger, higher-quality productions.
“A few years ago, we were struggling to monetize the small arthouse film market. Today we release some of the most popular and viewed films in the world. In recent months, “Don’t Look Up”, “Red Alert” and “Project Adam” have been examples of this, “said Ted Sarandos, Netflix executive president and chief creative officer.
Netflix has seen its subscriber numbers plummet in recent months, which with the arrival of other platforms, such as Disney +, may have made matters worse for the company. Again according to the THRthe company is redirecting priorities under the new motto “bigger, better, less” – bigger and better movies, but less (fewer movies).
One source noted to the tabloid that “small movies aren’t going away,” however another said that if the company pushes ahead with planning, Netflix may not need as many executives, suggesting future layoffs due to rate cuts. of production.
A third source added that when the company refers to bigger films, it doesn’t mean more expensive; it means making one movie for $ 20 million instead of two movies for $ 10 million. “The goal will be to create the best version of something rather than belittling it because of the quantity.”
An old report from Netflix predicted that the stream would gain 2.5 million subscribers in the first quarter of 2022. However, after the decline of 200,000 users, a new study has revealed the loss of at least 2 million more by the end of the second. quarter. Initially, the survey is the premise for the company’s new path to reduce content spending.
The Netflix post Wants Bigger, Better Movies, But Will Cut Down on Quantity first appeared on Olhar Digital.
Source: Olhar Digital
Emily Jhon is a product and service reviewer at Gossipify, known for her honest evaluations and thorough analysis. With a background in marketing and consumer research, she offers valuable insights to readers. She has been writing for Gossipify for several years and has a degree in Marketing and Consumer Research from the University of Oxford.
