According to Bloomberg, Netflix will make changes in 2023 to release fewer films. For the past two years, Netflix has released at least one film per week. However, the company plans to restructure its film division, combining the team that works on small projects with a budget of $30 million or less with the team that produces films with medium-sized budgets that cost $30-80 million to produce.
The restructuring will result in a “handful” of layoffs, but Netflix has not said exactly how many employees will be affected. Two managers will also leave: Lisa Nishimura, who has produced documentaries like Tiger King, and Ian Bricke, one of the managers of films on the service. Both will leave the company after more than a decade.
Despite the huge number of film titles that Netflix has released, only a few have won awards, reached millions of hours of streaming, or had the type of cultural impact that some of the biggest films have had. According to the company’s own top 10 list, its most viewed films for 2021 and 2022 include Red Notice, Don’t Look Up, and Glass Onion: A Knives Out Mystery.
