What do consumers say? Worth it or not? When the famous streaming service provider like Netflix has recently increased the price of its service last year. Reduce the number of new shows that will be released on the platform. and eliminated more than 100 items
Why did Netflix lower everything except the price?
This cost-cutting trend started in 2022. Many major media companies began cutting staff and trying to cut costs, such as Walt Disney Co. and Warner Bros. Discovery, which laid off thousands of employees. and cut billions of dollars in other expenses.
Over the same period, Netflix has also experienced fewer customers. and making income is not as good as before But the layoffs were not carried out in full force. It has just cut some employees and stopped increasing its operating budget.
This means that in 2023, Netflix will release 130 fewer new shows and movies, a 16% drop. Even though Netflix has released more and more new shows over the past decade, in 2023 production has decreased across all shows and movies. every quarter of the year This makes the final three months of 2023 Netflix have the fewest new releases in five years.
The main reason, of course, was the writers’ and actors’ strike. that causes work to stop Including new deals with writers and actors This may be part of the reason for higher production costs, although Netflix denies that the protests have had much of an impact. But it is clear that since the protests in the second half of the year About 60 fewer series debuted, which is a drop of about 25% (according to What’s On Netflix).
It could be said that Netflix is currently facing a problem.Lower income, high costs to the point of not being able to produce as much new content on the platform as before
Will the new reductions have an effect in 2024?
The situation Netflix is facing right now It is expected that this will affect the reduction of new shows for another 2-3 years. Many shows scheduled to premiere in 2024 and 2025 have been postponed. And there are some programs that have been cancelled.
This likely won’t be a temporary cut, Netflix’s head of film Scott Stuber said in a statement. There are plans to build fewer projects. To be dedicated to developing each project to have higher quality. This is one of the strategies that the company hopes to make money from the quality of its work. It’s not about quantity.
Netflix is currently the most popular TV network in the world, although Netflix has fewer shows and movies. But it is considered to be a company that produces more shows than any other company, so customers may not even notice that the platform has fewer shows than before.
If this is the case, how do you view it as a consumer? When spending more money But there is less content to watch than before. Will it still be worth paying for?
refer: bloomberg
2024-01-08 09:34:30
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