Netflix is ​​changing course: a lot less movies, but better movies

Its flood of movies has been one of the weapons Netflix has used to compete with other streaming services. Netflix is ​​now going to reorganize its movie division and wants to make fewer movies in total. that Bloomberg reports Based on insiders.

According to Bloomberg, Netflix CEO Scott Stauber is trying to cut back on movie production “until he can make sure more movies are of high quality.”

reorganization

Netflix is ​​merging the team that works on small projects, like documentaries and blockbusters, with the division that works on “mid-budget” films of between $30 and $80 million. The reorganization should save costs and there will be few redundancies.

However, several bigwigs are leaving, including Lisa Nishimura, the director who was responsible for documentaries like Tiger King. It’s not yet clear if the branch focused on big-budget projects will also reform, according to Bloomberg.

Red leaflet and glass onion

Many of the Netflix specials haven’t been a hit. Despite the slew of titles, only a handful of Netflix movies have won awards, such as All Quiet on the Western Front, which took home an Academy Award.

Among the most popular Netflix movies are Red Notice, Don’t Look Up, and Glass Onion: A Knives Out Mystery.

Streaming services should keep costs down

For years, billions of streaming services’ budgets for their series and movies have continued to skyrocket. For example, Netflix and HBO Max spent about 25 percent more on producing their own content last year than they did the year before. Recently, however, streaming services have had to downsize significantly.

Several of Netflix’s competitors have also recently undergone reorganizations and layoffs, including HBO Max and Disney.