Netflix to Scale Back Movie Output for High-Quality Titles
According to a report by Bloomberg, Netflix is planning to combine its small and mid-sized film units and scale back its movie output to ensure high-quality titles.
As a result, the streaming video giant will be announcing some layoffs, with two of its most experienced executives also departing after over a decade with the company.
Lisa Nishimura, responsible for documentaries and smaller-budget films, and Ian Bricke, a film group vice president, will leave Netflix, notes the report.
Netflix, which won four Academy Awards for its “All Quiet on the Western Front,” recently cut prices of its subscription plans in some countries to maintain subscriber growth.
The cheaper, ad-supported Netflix subscription tier is now also available on Apple TV devices. At launch, the subscription tier wasn’t available on certain devices.
Subscribers on the cheaper plan get access to the same catalog of content, only with a lower video quality (720p HD) and four to five minutes of ads per hour.
Basic with Ads only costs $5.99 in Canada, compared to $9.99 for the ad-free Basic plan.