Ever since the news of Netflix losing its subscribers and revenue came out, updates and reasons for the downfall have been revealed. While the streamer and their analysts blame the intense password sharing among users, fans and long-time users of the service apparently are blaming management for this.
Many fans believe that the loss that Netflix incurred in the first quarter of 2022 was due to Cindy’s departure. Cindy was an integral part of the organization. And many feel it is her absence that caused Netflix’s huge losses.
Let us take a look at why the fans are thinking so.
The downfall of Netflix started in 2020
Fans are trying to draw a link between Netflix’s issues and Cindy Holland‘s departure in 2020. Cindy was crucial in starting the service’s originals – successfully and often at great expense — with shows like House of Cards, Orange Is the New Black, and Stranger Things.
Important officials who work or have worked with Netflix say it was Holland, not Ted Sarandos, the company’s then-chief content officer, who established Netflix’s reputation as a home for high-quality entertainment.
They say it was also Holland who advised Sarandos, but to no effect, that continuing to commission specials from one of his comic heroes, Dave Chappelle, would cause internal turmoil and negative publicity.
After Cindy’s exit from the company, Bajaria took over her position. But her actions are called “the beginning of Netflix’s Walmart-ization” by one key Netflix supplier.
Many fans feel the major reason Netflix was at a loss in 2022 was that they are paying their top officials, including Ted and Bajaria, more than they should.
A Reddit user wrote, “Netflix pays its head of TV, Bela Bajaria, $18m per year. Outside of Netflix, certainly until recently, heads of TV at the biggest networks might have made $2-3m per year.”
“Ted Sarandos makes $20m a year in cash, more than half his pay. That’s actually extremely rare, not just in TV, but even in tech.”
The user concludes by saying that Netflix pays the majority of senior executives in cash. This means that they won’t have lost much in the current market drop.
What do you feel about the current situation of Netflix? Did Cindy leaving the company affect them majorly? Let us know what you think in the comments.