Netflix will cut investment in film projects. The streaming giant, which is not short of money, has begun to save money.

According to foreign media reports, Netflix's feature film department will try to cut investment in filming due to factors such as lagging user growth and increasing competition. Since the beginning of this year, the streaming media has suffered user losses and stock declines, and has laid off 150 employees.

Don't Look Up

It is reported that Netflix wants to focus on making bigger and better movies and slow down the frequency of releases, that is, "bigger, better, fewer". The success of several big-budget movies such as "Don't Look Up", "Red Notice" and "The Adam Project" has made Netflix decide to reduce the production and distribution of small and medium-cost and art films. An insider said: "Small-budget movies will not disappear, but they may become more niche to cater to audiences who are passionate about them."

In the coming weeks, Netflix will also hold meetings with producers and directors to discuss the scale and type of films. In any case, the era of Netflix's rapid growth of "just giving money without interfering in production" has ended, and things like spending $170 million to shoot "The Irishman" will become less and less common.

The Adam Project