Netflix is reducing the number of its big-budget films
Netflix, which has parted ways with Scott Stuber, the head of its film department, is shifting its strategy on the film side. The company is expected to reduce the number of its big-budget films.
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Netflix's strategy regarding original films has undergone many changes over the years. Initially prioritizing more prestigious projects to gain acceptance in the cinematic world, the company later decided to compete with traditional Hollywood studios in every area and began producing its own high-budget films.
STRATEGIC SHIFT DECISION FROM NETFLIX
Films such as 6 Underground, Red Notice, Extraction, Bright, and The Gray Man were produced to compete with the blockbuster films designed by these studios. In fact, these films brought success to Netflix in terms of viewership numbers. However, it appears that high viewership numbers alone have not been enough to cover Netflix's costly investments in this area. Because the company is once again shifting its strategy on the film side.
Scott Stuber, who has been the head of Netflix's film department for the last seven years, recently left Netflix. Entering a new era following the departure of Stuber, who has established his own production company, Netflix now seems set to move away from big-budget films. At least, that is the word in Hollywood circles. It is said that the company will produce fewer big-budget films from now on, and will instead prioritize series and lower-cost films.
NUMBER OF FILMS WILL DECREASE
On the other hand, the decline in the number of original films produced by the company seems set to continue. Having released 90 original films in 2018, Netflix released 49 original films last year. For this year, 36 films have been announced so far. Of course, a few more productions will be added to these as the year progresses. However, it is clearly visible that the company has significantly reduced its film production over the last few years.
Although films like Red Notice and Extraction are watched by large audiences after being released on Netflix, they are not as effective as series in either attracting new users to the platform or keeping existing users on the platform. At the end of the day, series continue to be Netflix's most important weapon. Moreover, licensed older series like Friends and Suits attract viewers just as much as original series. Therefore, it is expected that the company will invest more in these areas from now on and push its film investments a little more into the background.