Film chairman Scott Stuber recently made his exit from Netflix to start his own media company. In a recent appearance, the co-CEO of Netflix Ted Sarandos made a public announcement about the future of the company.
While addressing the exit of Scott Stuber, Ted Sarandos stated that the company is not going to change its plan for streaming releases. Revealing that they have found a formula for the streaming giant that works, Sarandos aims to keep the company as it is.
Ted Sarandos Does Not Plan To Change Netflix’s Strategy
With the exit of Scott Stuber, Sarandos indirectly talked about his departure by using the words “recent management departures”. Ted Sarandos, who is the current co-CEO of Netflix revealed in an interview (via Variety) that there is a specific formula that Netflix uses for its film strategies.
As the subscriber count for Netflix goes higher and higher, the co-CEO is happy with the results. During the interview, Sarandos talked about the film strategy that the entertainment company uses and revealed that he doesn’t plan to change that anytime soon.
“We do not plan to change our strategy or the mix [of licensed and original films]. It’s always going to be that kind of blend of, first window, second window and deep catalog. We think that formula works best to entertain the world.”
He further said,
“[Netflix original movies] are attracting some of the biggest audiences in the world. Fans really don’t care much about budgets and windows — they just want a movie that they love. They want a movie to make them cry, or make them laugh, give them something great to talk about over dinner,”
Well, Netflix’s strategy seems to be working quite effectively as it picked up 18 Oscar nominations for various projects in 2023. Bradley Cooper’s iconic movie Maestro even got an Oscar nomination for Best Picture while the actor was nominated for Best Actor in a Leading Role.
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Netflix Adds 13.12 Million Subscribers To Its List!
With the subscriber count going higher and higher, the Q4 announcement of Netflix was very in favor of the entertainment company. In a letter to its shareholders, the streaming giant announced that an astonishing 13.12 million subscribers were added to Netflix in Q4 of 2023 bringing the global number of subscribers to 260.28 million!
“We enter 2024 with good momentum. We expect healthy double-digit revenue growth for the full year 2024 on a F/X neutral basis driven by continued membership growth as well as improvement in F/X neutral ARM as we adjust prices,”
The letter also emphasized ads revenue and how they would like to make advertisements “a more substantial revenue stream in 2025 and beyond.” With a heavy number of subscribers to its name and Bradley Cooper’s Maestro carrying Netflix across the Oscar race, 2024 is going to be an interesting year for the streaming giant.
