Netflix content chief Ted Sarandos has made it clear that he wants the company to be more careful with money.
According to The Information, Sarandos met with numerous tv and film executives at Netflix. His goal was to let them all know that spending on projects, particularly large movies, needed to be done smarter. Netflix has a history of pumping money into large projects that don’t get much viewership. In particular, Ted Sarandos cited “Triple Frontier”, a Netflix action movie that cost $115 million, yet got minimal viewership. This meeting is largely due to the rise of other streaming services. Both Warner Bros and CBS have their own streaming service. Disney is launching their own service next year. According to a Netflix spokesperson, the company has not made any changes yet. They said:
“There’s been no change to our content budgets, nor any big shifts in the sorts of projects we’re investing in, or the way we greenlight them.”
What do you think about this shift in Netflix’s content management? Do you agree that they need to be more conscious about what they spend their money on? Let us know with a comment or a tweet. For more news about nerdy people of color, just go here.