Netflix cancels multiple "high profile" projects after losing subscribers

gamesradar.com:

A new Netflix report suggests multiple "high profile" projects have been cancelled in the streamer’s animation division.

As per The Wrap, an adaptation of Bone – the comic series starring the animated Bone cousins who are run out of Boneville – has been scrapped. The project was first announced back in 2019.

Also on the chopping block is witch-based animation Toil and Trouble and The Twits, an animated series of Roald Dahl’s beloved children’s book. Netflix, however, "insists" that the latter is still very much alive.

The news follows on from Netflix’s dramatic loss in subscribers over the first quarter of 2022. The streamer had initially projected to gain 2.5 million subscribers in the same period.

CEO Reed Hastings has addressed the sharp drop (via Metro), pointing the figure at password sharing. Netflix’s trial clamping down on the practice in Chile, Costa Rica, and Peru could be extended to other regions – while a cheaper ad-supported tier is also being considered.

One thing that’s bound to draw attention to the streamer in the coming months, however, is Stranger Things season 4. The ‘80s-set series has been split into two volumes – arriving on May 27 and July 1.

The fifth season, meanwhile, is set to be its last. On bringing the show to a close, co-creator Matt Duffer told SFX magazine in its new issue, "Even with five it’s going to feel like it’s ending a little early. We’re going to feel like we still have a lot more gas left in the tank. But I think that it’s better to end there with us wanting more. That’s why ending at five felt like the right move."

For more from the streamer, check out the best Netflix shows you should be watching right now.