Netflix to Make Fewer Movies, Lay Off Senior Staff
Netflix is embracing a quality-over-quantity strategy by cutting back on the number of movies it produces as the video-streaming giant restructures its film divisions, Bloomberg reports(Opens in a new window).
Netflix has been churning out more original feature movies than any other company in Hollywood. As Bloomberg notes, by following a strategy of releasing at least one movie a week for the past two years, Netflix’s yearly original movie output has routinely topped 50.
The restructuring will mean that Netflix’s smaller budget film division of $30 million or less will be combined with its mid-budget team that produces movies costing between $30 million and $80 million.
The cutback operation will also impact some positions at the company. Lisa Nishimura, who worked at Netflix for over 15 years and led its standup comedy and original documentary offerings will depart, Bloomberg reported, while Ian Bricke, a vice president in the film group, is also parting ways after over a decade.
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