By With Netflix’s head of film Scott Stuber exiting in March after seven years, questions have arisen as to what will happen to the streaming giant’s film division.
Combined with the streamer committing $5 billion over ten years to its WWE deal, the company’s $17 billion annual spend on content is expected to be rethought and high spending on original movies may be the first thing to go.
A new piece at THR has gone into Stuber’s exit and where Netflix, which has famously been focused more on quantity rather than quality when it comes to movies, will go next.
The streamer, which released 90 original movies in 2018, has already been pulling back – the number down to 49 in 2023. In 2024, the streamer is expected to release at least 36 original English-language films.
The trade indicates Stuber has been frustrated over Netflix chief Ted Sarandos’ continual refusal to offer any film a full theatrical release – as a result rivals in the sector like Amazon and Apple which have done so with movies like “Air,” “Napoleon,” “Killers of the Flower Moon” and next week’s “Argylle” have a competitive advantage.
TV chief Bela Bajaria was appointed chief content officer in early 2023 and once Stuber is out, it’s expected she will hire her own head of film. Original films have never been the streamer’s strength as TV is much more core to its business.
A source for the trade suggests while the streamer will “still put at least a couple of bets on pricey movies going forward,” Netflix does seem to be refocusing its ambitions with filmmaking aimed at broader audiences.
There’ll also likely be more licensed films rather than self-generated ones, recent acquisitions like Richard Linklater’s “Hit Man” being a good sign of where they could go.
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