Netflix Still Evaluating its Future Plans, May Dial Back on High-Budget Movies

netflix future

There’s been a lot of discussions on where exactly Netflix is heading after its market collapsed due to the first mention of a loss in subscribers. Timings are terrible as many more competitors are entering the market and they are losing some of their biggest streaming offerings that kept binge-watchers subscribed. Now, the studio is looking to take some drastic measures moving forward.

We already saw them take a hammer and drag down their entire animation division, which is a bizarre highlight of how that type of filmmaking always seems to become a scapegoat with the future of that division rather questionable. A new report by The Hollywood Reporter highlights that their biggest re-evaluation is in the form of Scott Stuber‘s feature film division.

They already let 150 employees go, which is 2% of their workforce, but they are still in the middle of re-arranging their projects. Every division was pretty much affected, and Netflix is eyeing to release bigger productions but fewer of them. They had tried to tackle the arthouse genre with some projects from masters from the industry, but are noticing that it’s not quite necessary for these projects to be a hit. Ted Sarandos shared in an April Earnings call that:

Today, we’re releasing some of the most popular and most-watched movies in the world. Just over the last few months, things like Don’t Look Up and Red Notice and Adam Project, as examples of that.” But what this “bigger, better, fewer.

Ted Sarandos

What does that mean for the future? It doesn’t mean they will cut smaller projects but they will refocus more moving forward. They will dial back the number of films they’ll produce and might move away from high-budget projects with a “carte blanche” offer to talent, Martin Scorcese‘s high-budget The Irishman was highlighted as such an example. The wording “vanity projects” was something given by THR, but it doesn’t mean they are gone but more focused on the future.

Netflix is more driven by algorithms than any other studio out there, even if some have made up their mind about what is and isn’t. It seems that they’ve realized that the quantity of films they put out at high production values doesn’t quite offer them what they wanted and are dialing it back as a result. For now, we’ll have to see how many projects that’ll affect moving forward. Here’s hoping they will still offer auteurs a home for their passion projects that might not survive the usual studio system.

Source: THR

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