The situation is tense for Netflix which, to save money, will produce far fewer films in 2023. The streaming service intends (finally) to favor quality over quantity. Unfortunately, some employees will be laid off in the process.
The frenzy of streaming platforms is coming to an end. Disney+ announces slowing down of Marvel productions and Netflix is following its path with fewer original films in 2023. It must be said that the quality of the original productions of the leader of SVOD has been quite poor lately. The new plan? Prioritize quality over quantity. It was time, right?
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Netflix Makes Huge Budget Cuts, Heads Are Jumping
If Apple prefers to postpone its projects to avoid laying off employees in the midst of a financial crisis, this is not the case at Netflix. Faced with the end of free money, even if some like James Cameron go further by talking about Ponzi Pyramid, the streaming giant restructures its original film production division as Bloomberg reports. Positions are sacrificed just like the more modest feature films.
Lisa Nishimura, to whom we owe Tiger Kingand Ian Bricke, the originator of The Kissing Booth, were thanked. Two teams, respectively managing productions under $30 million and productions between $30 and $80 million, merge soon.
In total for the year 2023, Netflix subscribers will be entitled to 30 films.
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Netflix is in trouble and making huge decisions
The streaming giant knows that its golden age has passed, especially with the arrival of fierce competitors. So Netflix is making huge decisions to save money like the end of account sharing despite the grumbling of users. The entertainment company has also set up a new paid subscription with advertising, which is a funny idea, and seems to be pushing new subscribers towards this formula.
It remains to be seen whether other branches will be impacted like Netflix Gaming which allows you to use your iPhone as a gamepad.
