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HomeENTERTAINMENTNetflix wants bigger, better movies, but will cut back on quantity

Netflix wants bigger, better movies, but will cut back on quantity

A meeting with Netflix shareholders revealed that streaming is changing its plans for producing original films. According to The Hollywood Reporterthe company plans to slow the pace of development, spacing more time from one film to the next, but ensuring larger, higher quality productions.

“A few years ago, we were struggling to monetize the market in small art films. Today, we release some of the most popular and watched movies in the world. In recent months, “Don’t Look Up,” “Red Alert” and “Project Adam” have been examples of this,” said Netflix executive president and chief creative officer Ted Sarandos.

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Less is more: Netflix wants bigger and better movies, but it’s going to cut back. Image: Elliott Cowand Jr/Shutterstock

Netflix has seen its number of subscribers plummet in recent months, something that with the arrival of other platforms, such as Disney +, may have worsened the situation for the company. Still according to the THRthe company is redirecting priorities based on the new motto of “bigger, better, less” – bigger and better movies, but fewer (fewer movies).

One source noted to the tabloid that “small movies are not going away”, however another said that if the company takes the planning forward, Netflix may not need as many executives, suggesting future layoffs due to reduced production rates.

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A third source added that when the company refers to bigger movies, it doesn’t mean more expensive; it means making one movie for $20 million instead of two movies for $10 million. “The goal will be to make the best version of something rather than cheapening it because of quantity.”

An old Netflix report predicted that streaming would gain 2.5 million subscribers in the first quarter of 2022. However, after the drop of 200,000 users a new study revealed the loss of at least 2 million more by the end of the second quarter. Initially, the survey is the premise for the company’s new route to cut back on content spending.

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