Netflix to Scale Down Movie Output as Part of Restructuring Efforts

Netflix to Scale Down Movie Output as Part of Restructuring Efforts

Netflix has been implementing a number of changes lately, ranging from making its Basic and Standard plans more affordable in the Philippines to having an ad-supported tier available in select countries. Netflix is also among the many tech companies that have been laying off people and restructuring several divisions within the company. one of its latest moves from Netflix is its plans to scale down on movie output, as reported by Bloomberg.

This is part of the many things Netflix is doing to contain the bleed, as it lost almost a million subscribers last year. With this development, Netflix will combine the teams working on small projects ($30 million or less) with teams working on mid-budget projects ($30 to 80 million) to make their movie division more cost-efficient. This restructuring also translates to more layoffs in the company and the departure of two executives: VP for Film Ian Bricke and Lisa Nishimura.

Prior to this, Netflix was releasing at least one new movie a week in the past 2 years. However, not all of those movies are successful–ie. achieving awards, reaching millions of hours of stream time, or having a significant cultural impact. With this restructuring, Netflix believes that having less movies would mean more high-quality projects in the future.

Netflix is not the only one implementing layoffs: rivals Disney and HBO have implemented job cuts as well.

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