A new report reveals that Netflix may be interested in focusing on producing bigger, big-budget movies at a slower release rate.
According The Hollywood Reporter (opens in a new tab), the streamer wants to focus on “making bigger movies, making better movies, and releasing less than before at a breakneck pace.” During Netflix’s earnings call, co-head Ted Sarandos cited Don’t Look up, Red Notice and The Adam Project as examples of big-budget Netflix films that have been globally popular and well-received.
Don’t Look Up, a disaster comedy starring Jennifer Lawrence and Leonardo DiCaprio, cost the platform $75 million and earned four Oscar nominations, including Best Film Editing, Best Original Score, best original screenplay and best film. The Adam Project, starring Ryan Reynolds and Zoe Saldana, was made on a budget of $116 million and was watched by over 3 million people in its first weekend.
The network’s new focus is on making a high-quality movie rather than settling for something cheaper that can come out faster. Sarandos commented that Knives Out 2 and The Gray Man, a Russo Brothers spy thriller starring Ryan Reynolds and Chris Evans, will hopefully boost growth after losing 200,000 subscribers. The Gray Man cost around $200 million, making it the streaming service’s most expensive movie to date.
Netflix has earned a reputation for canceling its original TV shows, regardless of the number of viewers or the positive reception the show received. After this report, it can certainly be theorized that the network is canceling shows en masse to save for bigger, big-budget productions.
For more, check out our list of the 46 best Netflix movies to watch right now.