Netflix To Cut Spending On Originals

Netflix has been pioneering the streaming space for some time now. Their original content has been a big draw for audiences looking for something different, not found on mainstream TV. What did they deliver? Well some of the most exciting content many had seen in a while. House of Cards, Stranger Things, Black Mirror, and Marvel. But all good things come to an end. And I can imagine the costs associated with producing original content is astronomical.

Recently Netflix Chief Content Officer Ted Sarandos communicated the message to a group of mid and high level film and TV executives; going forward spending needs to be more cost effective. In the past and current modicum, the idea has been that the high buzz and acclaim associated with these projects has justified the costs. Now Netflix is tightening those purse strings. Does this mean there will be a drop off in quality over at Netflix? With streaming competitors like Amazon and Hulu churning out original content and essentially copying the Netflix playbook.

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CNBC highlighted the fact the Netflix has essentially been increasing the money its spent year after year. Their net cash flow was negative $380 million for the first quarter in 2019. It’s also worth mentioning that Netflix reps have not corroborated the news of deflating budgets.

If anything, this to me means that Netflix is essentially aiming to be smarter about the projects in which it invests. While there are some high-profile Netflix projects that gain viewership’s to justify their lofty price tags. There are more high-profile projects which struggle to find a large audience despite featuring high profile talent.

What are your thoughts on this? Let us know in the comments down below!

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SOURCE: BGR

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