Netflix has had the most massive growth in the last few years and also had the biggest setback in the recent quarter. It lost 200,000 millions subscribers and lost 44% of its stock value. The company was forced to reconsider its approach and make certain changes that it was too proud to make earlier: an ad supported model. Increasing competition from its rival is adding to Netflix’s misery. Hence, now the streamer has finally decided to wisen up and do what its subscribers had long wanted it to do.
Netflix to focus more on quality and less on quantity
Netflix always prioritized the size of their catalog over quality, which has obviously not worked well for them. Ever since their massive loss, they have adopted cost-cutting measures. As a result, the TV, the family live-action, and the animation divisions have suffered from too many shows getting canceled. Now they are introducing “subtle changes”. No more vanity projects and throwing money to attract talent but using the budget to create a quality project.
“The goal will be to make the best version of something instead of cheapening out for the sake of quantity,” said an insider. The streamer released Don’t Look Up, Red Notice, and The Adam Project in the last few years. It hopes to get its mojo back with bid budget releases like Ryan Gosling starrer and Russo brothers’ helmed The Gray Man. A Knives Out sequel is also in the pipeline for which the company shelled out $469. The platform has also acquired Emily Blunt’s Pain Hustlers for $50 million.
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Does that mean the streamer will stop making small indie flicks?
The original independent features division that brought movies like To All The Boys I’ve Loved Before, The Kissing Booth and etc., also suffered a setback due to the layoffs. It was the division that mostly produced movies under a $30 million budget belt and kind of helped in the resurgence of romantic comedy flicks. However, small movies aren’t going to go anywhere. According to an insider it’s just going to get a lot more niche.
What do you think of this new approach? Do you think it will work out?
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