Netflix Kills Over 100 Shows As Streamer Plans Big Changes

With corporations shifting their visions for the upcoming year of money-making, the streaming industry is also keeping its eye focused on the prize of raking in new subscribers and depositing more cash in the bank.

Such is certainly the case for Netflix who, along with making its yearly changes to subscription fees, is putting out noticeably less content than in the past, slicing more than 100 shows from its slate as the fresh year gets started.

Like many other studios in the industry, Netflix talked a big game during the historical writers’ and actors’ strikes, claiming that they were still up to speed with their regular output.

This, however, couldn’t be further from the truth as, in 2023, the streamer dropped somewhere around 130 fewer original programs than in 2022.

A pretty sizable difference when you look at the numbers, this comes out to be a markdown of nearly 16%.

While the strike is largely to blame, it should also be noted that every quarter during Netflix’s 2023 saw fewer shows and movies released by the streamer.

So, if you felt like there wasn’t a buzzworthy documentary like Tiger King or a viewership numbers demolisher like Bird Box, you would be right.

But, while the first three quarters suffered with output, it was the final quarter of 2023 that took a complete nosedive.

As the year dwindled down, you may have been reaching out to other streamers to fill the void of finding something new to watch. Netflix’s final three months of 2023 marked the lowest number of new titles in five years.

This is kind of bonkers to think about when Netflix is widely heralded as being the first company to put streaming on the map.

And, while the last few weeks brought audiences films like Sam Esmail’s star-studded sci-fi thriller Leave the World Behind and part one of Zack Snyder’s space epic, Rebel Moon, there just wasn’t the density that we’ve seen from the platform in the past.

The fallout of the double strikes can also be seen spreading out into the new year, as Netflix’s release schedule is all over the map.

The streamer managed to get the Michelle Yeoh-led action series The Brothers Sun and the true story survival drama Society of the Snow up and running this month. But the rest of their arrivals are sprinkled out with months in between bigger productions.

Just as we’ve seen with titles from other studios like Deadpool 3 and A Quiet Place: Day One, the strike has impacted Hollywood’s release docket.

Beyond this year and the aftershock effects of the writers’ and actors’ strikes, Netflix also plans to release less content as the years roll on, appearing to move toward a quality vs. quantity approach.

The company’s Film chief, Scott Stuber, previously shared Netflix’s decision to handle less programming in hopes of bringing audiences better-produced and told stories.

And, while the original content may be coming at a slower rate, the studio is undoubtedly helping itself with its latest team-up with Warner Bros. Discovery to contract out films including Don’t Worry Darling and Joker.

Source: Bloomberg