The Netflix streaming platform is expected to reduce its film production in 2023, thus changing its strategy of releasing an original film per week, maintained in the last two years.
According to Bloomberg, the company is focused on its restructuring, with the unification of film divisions. The teams that previously handled small-budget (up to $30 million) and mid-budget (up to $80 million) films were unified. This change may result in a small number of job cuts.
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Netflix’s option to reduce the number of releases shows the company’s intention to focus on high quality projects, since despite the immense list of titles released in recent years, only a few of them stood out in the media or received awards, such as “Roma ” and “Nothing New on the Front”, which won Oscars.
Although it is not clear how many jobs will be cut, the number of layoffs is expected to be lower than those announced by Netflix last year. This movement happens among other streaming companies, such as HBO Max and Discovery, which saw layoffs in 2022 and Disney recently announced the layoff of 7,000 workers.
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