Netflix cancels a new wave of series because of its massive loss of subscribers

Following the loss of 200,000 subscribers this last quarter, Netflix announced the cancellation of several animated series. This decision follows several other cancellations that have taken place recently. Reed Hastings, CEO of the company, now wants to offer only content that users want to see.

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Netflix blames the blowa difficult week. On Wednesday, the platform announced the bad news: it lost 200,000 subscribers in the last quarter. A first in its history. Quickly, ideas flow to rectify the situation and keep the ship afloat. Objective number 1: find a new source of income. After months of rumors, it seems the decision has been made. Soon, Netflix will offer a new cheaper subscription, but with advertisements in return.

Objective number 2: make savings. For Netflix, this obviously involves the production of original content, a segment of its strategy that has become its main strength over time. A few days ago, we learned that several series would not be renewed in 2022 after the broadcast of their first season. Today, it is a new area that the company has in its sights: that of the animation. Indeed, several projects were nipped in the bud following the publication of the last catastrophic financial statement.

Netflix cuts out animation following loss of subscribers

Several series in production have therefore been cancelled, including the adaptation of the Bone comicsor even The Twits, the children’s novel by Roald Dahl (note that a film will still be made). Two other series Web and Trouble, will also never see the light of day. Added to these cancellations is a management overhaul on the Netflix Animation side. Department manager Phil Rynda was fired this week along with other employees.

Related: Netflix Blames Subscribers Who Share Their Accounts For Price Rising

On the side of the directors, anger is brewing. Elizabeth Ito, creator of City of Ghosts, and several of her counterparts accuse Netflix of having manipulated his data to justify these cancellations. Reed Hastings, CEO of the group, explains for his part that he wants ” do what [les] spectators want to see”in contrast to the fact “to welcome everyone’s favorite series” advocated by Phil Rynda.

This new strategy already shows some beginnings, in particular the new category system which aims to better adapt to each user. But the latter will not please everyone. Several designers are already complaining abouta promotional window far too short for their series or their film, not allowing them to create a real expectation among the public.

Source : The Wrap

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