Netflix Shuts Down Major Content Plans, Job Cuts Coming

in Entertainment

Millie Bobby Brown screaming as Eleven in 'Stranger Things'

Credit: Netflix

Netflix has ascended to become the most popular streaming platform in the world, but major cuts are reportedly coming.

Founded in 1997 by Reed Hastings and Marc Randolph, Netflix initially began as a DVD rental service by mail. However, its game-changing moment came with the introduction of its streaming service in 2007, allowing subscribers to instantly access a vast library of movies and TV shows from the comfort of their own homes.

Credit: Netflix

Since then, Netflix has become synonymous with the streaming revolution, offering a vast and diverse range of content, from original series like Stranger Things and The Crown to an extensive catalog of licensed films and shows. The platform’s commitment to producing original content has earned it critical acclaim, with numerous Emmy and Academy Award nominations and wins.

Netflix’s success is not only attributed to its content library but also its user-friendly interface and personalization algorithms, which recommend tailored content to subscribers based on their viewing history. The company’s global reach has expanded over the years, making it a household name in countless countries, but that doesn’t mean that it hasn’t been hit with any speedbumps along the way.

Netflix recently cracked down on password sharing, now no longer allowing families and friends to share their passwords with people outside of their home networks unless they’re willing to upgrade their services. In addition, the company has had to look for other avenues of content as it prepares to say goodbye to Stranger Things, as the beloved television show has been confirmed for its final season.

'Stranger Things' characters looking up at the sky in the Season 4 finale
Credit: Netflix

Now, we’ve got more news to report on the streaming platform. Netflix’s animation unit and its film lineup are set to undergo a significant restructure, according to a report by Variety. This restructuring is anticipated to result in job cuts and the suspension of two films that were in pre-production. While the exact number of job cuts remains undisclosed, the streamer is expected to make these decisions in the coming weeks. A Netflix spokesperson has confirmed the plans but refrained from providing additional details.

Karen Toliver, who assumed the role of Vice President of Animation in February 2022, has been instrumental in fine-tuning the long-term strategy for the animation group. Despite the reorganization, Netflix remains committed to maintaining a robust slate of animated content. As part of this effort, the division is exploring output deals with third-party producers with the aim of showcasing their animated works on the platform. However, the specific producers or companies being approached for these deals are yet to be publicly revealed.

Jenna Ortega as Wednesday Addams
Credit: Netflix

In the wake of this restructuring, two projects from the animation slate are undergoing changes. Firstly, an unannounced film titled Escape From Beverly Hills is being shelved and will be made available to other potential buyers. Secondly, Tunga, a film acquired by Netflix in 2019 from creator Godwin Jabangwe, centered around the mythology of the Shona culture, remains with Netflix and is returning to the development stage, the report reveals.

Despite navigating internal strategy adjustments and external market challenges (notably, competitor DreamWorks Animation recently announced layoffs and production outsourcing), Netflix Animation had a banner year in 2023.

The division secured an Academy Award for Best Animated Feature with Guillermo del Toro’s Pinocchio, featuring a star-studded voice cast including Ewan McGregor, Cate Blanchett, Christoph Waltz, and Tilda Swinton, Variety reports. Upcoming releases from the unit include Leo, featuring the voice of Adam Sandler as a long-lived lizard that served as a classroom pet in a Florida school, and Chicken Run: Dawn of the Nugget.

What do you think of these changes coming to Netflix? Let Inside the Magic know in the comments!

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