In the aftermath of film chairman Scott Stuber’s departure, Netflix stands resolute in maintaining its movie strategy, as asserted by co-CEO Ted Sarandos. While not directly addressing Stuber’s exit, which surfaced on Monday, Sarandos addressed inquiries during the streaming giant’s fourth-quarter 2023 earnings interview regarding potential shifts in the wake of recent management changes. Responding, he stated, “We do not plan to change our strategy or the mix [of licensed and original films]. It’s always going to be that kind of blend of, first window, second window, and deep catalog. We think that formula works best to entertain the world.”
Highlighting the global appeal of Netflix’s original movies, Sarandos emphasized their substantial audience engagement. He specifically cited the dystopian thriller “Leave the World Behind,” executive produced by Barack and Michelle Obama and featuring Mahershala Ali, Myha’la Herrold, Julia Roberts, and Ethan Hawke. According to Netflix’s metrics, the film garnered 134.2 million views worldwide in Q4 2023. Additionally, Sarandos pointed to Jennifer Lopez’s action-hero movie “The Mother,” boasting 249.9 million hours viewed in the first half of 2023, positioning it as one of the standout movies of the year, as suggested by analysts at LightShed.
Netflix’s original films, according to Sarandos, play a pivotal role in setting the platform apart from its competitors. With 18 Oscar nominations across 10 different films, the streaming giant continues to make a significant impact in the film industry. Sarandos asserted, “Fans really don’t care much about budgets and windows — they just want a movie that they love. They want a movie to make them cry, or make them laugh, give them something great to talk about over dinner.”
Scott Stuber, who significantly expanded Netflix’s original film output during his tenure since 2017, played a crucial role in fostering relationships with acclaimed directors such as Alfonso Cuarón, Spike Lee, and Martin Scorsese. Stuber is anticipated to remain with Netflix until mid-March, with chief content officer Bela Bajaria overseeing the recruitment of his successor.
Looking ahead, Netflix’s film lineup for 2024 promises an array of exciting releases, including Zack Snyder’s “Rebel Moon — Part Two: The Scargiver,” “Back in Action” featuring Cameron Diaz and Jamie Foxx, Steven Spielberg’s Amblin Entertainment production “Carry On” starring Jason Bateman and Taron Edgerton, “Spellbound” from producer John Lasseter, Eddie Murphy reprising his role in “Beverly Hills Cop: Axel F,” and “Six Triple Eight” starring Kerry Washington and directed by Tyler Perry. The streaming giant remains committed to delivering compelling and diverse content to its global audience.
