Netflix is reorganizing its film departments and pledging to release fewer, higher-quality films, according to a recent Bloomberg story, which Netflix largely verified. A few people, including two longstanding executives, will be laid off as a result of the streaming behemoth integrating film groups that make small and medium films, according to the report. When asked how many employees would be laid off, Netflix told TechCrunch that the changes were designed to streamline its operations and position it for the next stage of its growth.
According to the article, Scott Stuber, the chairman of Netflix Film, has been trying to reduce the number of movies produced by the company so that more of them are of a high caliber.
Although the information is released at the same time that Netflix unveiled its schedule of 49 original films for 2023, it appears that this shift has already been put into effect. In contrast, the company’s schedule from the previous year included 85 original movies. In this context, a Netflix original refers to both in-house produced content and content for which the streaming service holds distribution rights.
Unknown at this time, but a choice that might impact the production of new originals on the platform, but if Netflix would also be restricting the inclusion of originals that it did not create but rather purchased the rights to.
To its shareholders earlier this year, Netflix bragged that it had ramped up its ten-year-old original programming strategy.