Netflix stops making expensive movies

Netflix stops making expensive movies

Netflix is ​​refocusing its film production away from mega projects with a tight budget giving carte blanche to filmmakers after troubling first-quarter results.

Netflix He made the decision to move away from mass motion picture production. The streaming service has started creating original content with the series house of paper in 2013. Since then, the company has significantly expanded its content library, adding hundreds of fantasy and reality series, as well as film projects of all sizes. Later, Netflix stepped into the ring by making blockbuster style movies with big stars and a budget level that could rival theatrical productions. One of their first films at this level cost $90 million and was, at the time, the most expensive project ever funded: the 2017 Will Smith fantasy-crime. Bright.

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Since then, Netflix has only increased its production of mega movie projects on a tight budget, many of which have drawn unprecedented viewing numbers for the streaming service. Some, like Martin Scorsese Irish ($175 million) are adult-oriented bait films, but most are star-studded action projects designed to appeal to a wide audience. This includes Ryan Reynolds movies 6 underground And the Adam’s Project Beside red notice, which starred Reynolds opposite Gal Gadot and Dwayne Johnson, and was a $200 million buyout. their next movie gray manWho brings Chris Evans with him Avengers: Endgame Filmmakers Joe and Anthony Russo, they have a similar poster price.

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for every THRNetflix is ​​refocusing its content production on smaller projects. Although they will continue to produce certain projects with a significant budget level, they make the decision to approach future projects with more discipline and caution rather than just throwing money at the creators. An inside source stated thatThis tendency to do anything to attract talent and give them carte blanche is fading. “

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This decision is likely in response to the fact that Netflix has been exposed to some amazing financial news recently. In the first quarter of 2022, the company recorded a loss in subscribers for the first time in a decade, dropping from 221.84 million subscribers to 221.64 million. How will this affect the films already in the pipeline, including a pair of red notice sequel and upcoming Take out the knives Follow-ups are currently unknown.

While Netflix This may be somewhat narrowing in terms of the individual projects budget, it would be interesting to see how that affects the service. They still have several low- and mid-budget projects that maintain their ongoing weekly production of international original content, so subscriber numbers may remain flat to the back of this material. However, if the lack of big-budget movies causes subscribers to shrink further, they may rethink their game plan again.

Next up: Every Netflix original show in 2022 (so far) has been cancelled.

Source: THR

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2022-06-01 17:18:00

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