Netflix Opts for Quality Over Quantity Strategy with Original Movies as it Slims Down its Production Slate
Netflix Opts for Quality Over Quantity Strategy with Original Movies as it Slims Down its Production Slate
Netflix is one of the only profitable streaming services, and this strategy allows it to double down on those profits and build a better reputation for quality.
Netflix knows that $17 billion will buy a lot of shows and movies. That’s the number the streamer arrived at to spend on content in 2023, and when it was following the strategy of attempting to have a new movie ready for release every week, it seemed it would need every cent of that $17 billion. However, as the economy and the streaming landscape have changed, so have the goals and priorities of the world’s largest streamer.
- Netflix is focusing on a quality-over-quantity strategy with its original movies, a shift in thinking from the last few years.
- Upcoming titles include the awards-bait “Maestro,” David Fincher’s “The Killer,” and “Rebel Moon” from Zach Snyder.
- The streamer is also adding more licensed content, freeing up money that can be spent on movie quality instead of making more prestige TV.
Is Netflix Angling for an Oscar?
These days, the streaming giant is focused on bringing higher-quality movies to market, instead of just opening the content firehouse and seeing what comes out. Netflix’s head of film Scott Stuber recently spoke with Variety about the new strategy the company is employing, saying that the company needed volume in its releases when it was first getting its feet wet. Now that Netflix is an established movie studio, it can slow down and focus on top-notch content from its film division.
“Right now, we’re not trying to hit a set number of film releases. It’s about ‘Let’s make what we believe in,’” Stuber said. “And let’s actually put forth a slate that we can stand behind and say, ‘This is the best version of a romantic comedy. This is the best version of a thriller. This is the best version of a drama.’”
The streamer is gearing up to release “Maestro,” a biopic about composer Leonard Bernstein starring Bradley Cooper, who also directed the film. The movie is already receiving awards buzz, and excitement is also building about David Fincher’s “The Killer” and Zach Snyder’s “Rebel Moon,” which are set to debut on the service in November and December, respectively. Netflix could have a much heavier presence at the Academy Awards going forward if it remains committed to a quality-over-quantity approach for its movies.
Will Netflix’s Film Strategy Mean Less Money for its TV Shows?
One of the reasons that no Netflix original film has had the same cultural impact as its TV shows is that users have come to know Netflix as a TV streaming service. It leads with prestige series that have wide consumer appeal like “Stranger Things,” “Bridgerton,” and “Squid Game,” and that — more than anything — has allowed it to build itself into a streaming juggernaut with nearly 250 million global users.
A focus on quality for its film slate may mean that the movies Netflix does choose to produce could be more expensive, but it also means that the company will end up passing on more movies that it may have greenlit at one time. That will free up money that can be used in other segments of the company, like TV production or building out its gaming division.
The company has also been adding licensed content to its platform more frequently of late, such as its recent importation of several series from Max. That too saves Netflix money, as it gets to pay a simple licensing fee instead of assuming all the costs of production for these shows. Company co-CEO Ted Sarandos said during Netflix’s most recent quarterly earnings call that more licensed content was definitely in the streamer's future.
There may also be more money incoming from Netflix’s international division. A recent report found that outside of the U.S. and South Korea, no country where Netflix produces original content spends more than half their viewing time watching shows or movies made locally in that territory. Netflix could well decide it’s not worth the money creating content in so many different countries when the people of those countries would rather watch something else.
In short, users probably don’t have to worry about an increase in the quality of Netflix movies leading to a decrease in quality for its TV shows. There’s plenty of money to go around at Netflix, and its reduced film slate means the releases it does put out will be much more likely to grab users’ attention going forward.
Netflix
Netflix is a leading subscription-based video streaming service that offers on-demand access to an extensive library of over 3,000 movies, 2,000+ TV shows, and a growing collection of acclaimed Netflix originals. Renowned for producing groundbreaking content, Netflix has become a cultural powerhouse with hit originals like “Stranger Things,” “Wednesday,” “Squid Game,” “The Crown,” “Tiger King,” “Bridgerton,” “The Witcher,” and “Black Mirror.”