Netflix will cut its production budget by $300 million. This therefore means that your favorite series may be in danger of possible cancellation, as programs like Lockwood & Co or 1899 have been.
It’s no secret that streaming isn’t necessarily doing well. Disney+ has lost a lot of subscribers in this (almost) mid-2023 and Netflix is stepping up to reduce its spending. We are talking about the end of account sharing to save billions of dollars or even the reduction of film productions. The SVOD giant is spending the second by announcing to reduce its production costs, your favorite series may be in danger!
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300 million dollars in savings for the streaming giant
Fans aren’t shy about stepping up their efforts to protect their favorite series from cancellation. Unfortunately, Netflix risks catching up with them since the streaming giant will drastically reduce its budget. According to the Wall Street Journalthe platform foresees a drop of 300 million dollars injected into the productionaccording means that your favorite program is in danger and may disappear during the year.
It must be said that Netflix multiplies productions at a somewhat absurd speed so inevitably, not all of them find their audience. Some go unnoticed while others are unexpected hits like Squid Game. Netflix has already started cleaning since strong programs like 1899 (by the creators of Darkother acclaimed content) or Lockwood & Co have already been canceled after one season.
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Why Netflix decides to reduce its budget?
As The Wall Street Journal reports, Netflix is cutting its budget for the sake of additional profits. This decision is part of the end of account sharing which promises to save him billions and, despite the massive departure of subscribers, analysts believe that they will gradually return.
The golden age of streaming platforms seems behind us with its productions galore, its passwords which are exchanged and its series renewed even when success is not at the rendezvous.
