Netflix's Movie Strategy Is Changing - Especially In One Major Way
Over the past few years, Netflix has adopted an aggressive strategy when releasing movies unique to its platform. In 2021, the platform began releasing a new movie every week, and while some might argue much of the fare Netflix puts out is forgettable, the service has managed to work with some exceptionally talented filmmakers, like Martin Scorsese, David Fincher, and Guillermo del Toro. However, it appears those days are over, and Netflix will begin to tighten its belt and be more selective with what types of movies it pursues.
The New York Times published an article detailing the new plan set forth by Netflix's new film chief, Dan Lin. While there's a lot to take in, the biggest change is Lin's intention to focus on quality over quantity going forward. This also includes producing a greater variety of films under Netflix's umbrella as opposed to solely action movies in the vein of "Red Notice" and "The Gray Man," both of which are among the overrated Netflix original films subscribers should avoid. The goal appears to be to appeal to a wider breadth of audiences, and that includes doing away with some interesting-sounding projects.
The report details how Netflix dropped a new film, "Aurora," which had Oscar-winning director Kathryn Bigelow attached at one point before she left the project. The streamer also won't move forward with a new movie that had Millie Bobby Brown attached, despite how she can be considered its poster child with "Stranger Things" and the "Enola Holmes" film. And given these major changes, Netflix is, unfortunately, staying adamant in one key area.
Netflix still isn't planning on giving its movies theatrical releases
While Netflix is slashing costs by reducing its movie output (in addition to laying off some of its staff), it's overlooking a key way to make money — releasing its films in theaters. The New York Times notes how Dan Lin is sticking with the company's previous ethos of putting most of its output directly onto the streaming service. There have been exceptions over the years, like "Glass Onion: A Knives Out Mystery" making Netflix history with its limited theatrical release, but that doesn't happen very often. It's a missed opportunity, as the article quotes John Fithian, former president of the National Association of Theatre Owners, who said, "The data from the pandemic is clear that movies released only to streaming don't get the awareness and pop of a movie that was first released theatrically."
In addition to limiting output, it appears Lin wants to scale back what the company pays actors and directors to create Netflix originals. For example, Ryan Reynolds, Dwayne Johnson, and Gal Gadot were reportedly paid $20 million each to star in "Red Notice." Instead, there will be a greater emphasis on offering bonuses after the fact, depending on how well a given movie performs. According to the article, plenty of individuals are worried this could scare off talent, but others remain optimistic it could present new opportunities for artists.
If Netflix wants more than expensive action movies, it may invest in low- or mid-budget films in genres that major studios often ignore, like romantic comedies. Neither Netflix nor Lin commented on anything in the article, but hopefully, artists receive the tools and resources they need to continue making great works.