Netflix plans to release fewer original films to improve quality

Image: Netflix

At least that's what Netflix hopes. The streaming service is restructuring its movie division to release fewer films overall. Even with the number of titles it's released, only a few won accolades, reached millions of hours of streaming or achieved the cultural impact some big blockbusters have achieved. Netflix Film chief Scott Stuber reportedly decided to do this cut so the division guarantees it produces high-quality projects. 

Before this announcement, it debuted at least one movie per week in the past two years. Netflix plans to combine its team working on small projects with a budget of USD 30 million or less and the unit that makes mid-budget films costing between USD 30 million and 80 million. This restructuring will result in a "handful" of layoffs, but Netflix hasn't specified a number. It's unclear if Netflix's division for big-budget projects will be affected by this restructuring. But two notable executives are leaving the company after over a decade. Lisa Nishimura, who oversees documentaries like Tiger King and small-budget films, and Vice President for film Ian Bricke are departing.

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