Netflix has been a trailblazer in the entertainment industry since its launch in 1997. They disrupted the traditional television broadcasting model by introducing its streaming service and allowing viewers to watch what they want, when they want. Now, Netflix is taking its industry-changing approach one step further by restructuring its film units in a bid to produce fewer but better original movies.
Netflix’s film units have always been focused on producing unique, quality films, however, their restructuring efforts are aiming to take their films to the next level. The company’s goal is to focus on “less but better” films that are both ambitious and award-worthy, while also ensuring that the films they produce are both marketable and profitable. For example, Netflix recently acquired the critically acclaimed The Irishman from Martin Scorsese and is anticipating more films from the acclaimed filmmaker.
In its effort to “less but better” films, Netflix will be consolidating its several film divisions into a unified unit throughout its global network. The new approach is intended to streamline operations and reduce redundancies, ultimately resulting in cost savings. Additionally, the consolidation will provide for greater collaboration and a more unified filmmaking process between different teams and different projects. The move also signals a larger shift towards bigger budget films that are both creative and commercially successful.
Netflix’s restructuring efforts are an exciting opportunity to create a new type of movie experience. By focusing on bigger budget films and working with A-list talent, Netflix could create much more ambitious, blockbuster-style films that will bring in new audiences. As technology continues to evolve and streaming services become more commonplace, Netflix’s “less but better” approach to its film units may very well set the standard for the rest of the industry.
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