bigger, smaller and better –

Bigger, better, less. This is a chorus on Netflix with feature film executives led by a department head. scott stuberThey are struggling to work as the digital streaming giant changes course and faces new realities such as a backlog of subscribers (it lost 200,000 subscribers in the last quarter) and growing competition (bundling Disney+, Hulu and ESPN+ now has 205 million). subscribers With 221 Netfl (Behind one million global subscribers).

hollywood reporter I spoke to various sources, from executives to producers and company affiliates, to paint a picture of the streaming giant trying to recapture its shocking revenue after the April 19 reveal (Netflix has lost 44% of its value since then). “Moral is stagnant at the stock level,” jokes an average executive. Another executive describes the mood at Netflix as “dispersed” change.

It’s easy to understand why. The company, in response to Wall Street, took cost-cutting measures, such as adding more than 150 employees, or 2% of its workforce. Television and other parts of the business have gained their successes, but the focus is on the resources section. Many of the cuts destroyed the Family Live Action Film Division and the Original Independent Functions Division, which made films in the $30 million budget range, and cleared their ranks.

As it moves forward, Netflix wants to focus on making bigger movies, making better movies, and releasing less than ever before at a tremendous pace. “Just a few years ago, we were struggling to monetize the small art film market,” said a Netflix employee. Ted Sarandos Analysts were told the company was asking for profits in April. “Today we will publish the most popular and most watched movies in the world. Just the last few months, stuff like that. don’t look up s red warning s the adam projectAs examples of this.” But what this “big, better, less” directive means is not clear inside or outside the company.

“Small movies don’t go away,” says a source, but they can become more niche and cater to an avid audience. Another source agrees, saying production will be cut, reducing the need for so many executives. “They were attended by executives,” the source said. Also, bigger doesn’t necessarily mean more than $150 million worth of movies. Expect a more subtle change: Instead of making two movies for $10 million, for example, the company will make one for $20 million. “The goal will be to create the best version of something, rather than cheapening quantity,” said one source. And Streamer remains in the buyout game, as evidenced by the recent $50 million deal. emily frank thriller pain dealers.

Calling Netflix revenue, Sarandos referred to “big event movies” as gray man s knives 2 As a driving force of the undergrowth. gray manin the lead role Ryan Gosling s Chris Evans In a film with a budget of more than 200 million dollars, directed by The Avengers: The Last Game Because Antonio s Jose RussoIt will be released in select theaters July 15-22. knives 2 – The next chapter in the director’s whodunit franchise. Ryan Johnson and star Daniel Craig, for which Netflix made a $469 million deal in March 2021 in the fourth quarter of this year. “We are confident that the next slide of 22 will be better and more influential than 21,” Sarandos told analysts on an April conference call.

Animation is also considered, a disciplined ax has been adopted for projects that have been in the bubble, and release frequency has also been reduced, although “New movie every week” is still the goal, whether it’s live action or animation.

Those steps are a far cry from just a few years ago, when movies costing $100 million or $150 million were rare. It was also a time when Netflix was often cited in the media as the savior of mid-budget films and once-theatrical elements like romantic comedies and thrillers. always be mine maybe, kissing the two s All the boys I used to love They became hits, became social media stars thanks to their actors and even launched mini-franchises.

The company also does not give a specific address now. “There will be conversations over the next few weeks with producers and directors about size and genres,” said a producer who has a meeting in the books and is looking forward to the announcement. But this is an uncertain time for the streaming giant, which could see even more cuts and possible executive departures, hurting some producers and agents. “Am I comfortable handing them a package now? “No, I’m not,” said one of the partners. (Netflix co-founder iron cane Not exactly given by the Stuber movie director or the TV leader. Bela Bajaria Boost your self-confidence when maureen daudInside New York Times The profile, published on May 28, asked how likely top executives were to stay, to which he replied, “Hmm, the way we are set up, no one can make that assumption.” He then defended the executives, saying, “Our content is not the reason why the current downturn is happening.”)

One thing that many agree on is that Netflix is ​​an era of expensive and vain projects, whether animation or live action (like About Martin Scorsese$175 million Irish), is probably over. “This tendency to do something to attract talent and give them carte blanche is disappearing,” said one man. As always, there will be exceptions – this is Hollywood, after all – but at its core, this new era seems to be driven by one idea: discipline.

The story first appeared in the June 1 issue of The Gossipify. Click here to subscribe.