Netflix has lately been facing a major crisis mainly due to the loss of subscribers in the last few months. The company had previously announced that they lost over 200,000 customers in the first quarter of 2022 and have been coming up with schemes that can minimize the losses henceforth. A recent report now suggests that internal conflict has a lot to do with the dent in Netflix’s numbers and the problem is not exactly limited to its international forum.
For the unversed, the company began streaming content in India in January 2016 and most reports suggested that it did not work quite well in the country. With rising competition in not just India but around the globe, the multi-billion-dollar company had decided to take up some measures to bring the numbers in control.
A bunch of recent reports suggest that Netflix is testing an ad-induced format which comparatively guarantees a better success rate. They are also reportedly planning to introduce more plans which will help them reach a wider audience.
According to a recent report by The Hollywood Reporter, there is some internal drama which is affecting the revenues of Netflix. Executive Cindy Holland, who handled the content for the first few years was reportedly in a spot when co-CEO of the company Ted Serandos started favouring another official in the same position, Bela Bajaria, over her. Bela has been the brains behind shows like Squid Game, Lupin and You, while Holland brought in titles like House of Cards and Stranger Things, in the past.
The two Netflix members were also reportedly divided over the show The Queen’s Gambit, as Cindy Holland was confident in the project, according to the same reports while Bela Bajaria was sceptical of it. Holland was also allegedly unhappy with the company’s new policy that put weight on quantity over quality.
A source close to the same publication said, “I wonder if, say, a bonobo throwing sh*t at a whiteboard full of titles as a method of deciding what projects to make would have more or less success than all of these other ‘deciders’ who think they know what people want or don’t want.”
Another source, on the other hand, believed that Cindy Holland’s exit changed the entire scenario. “Netflix was a gut-driven, risk-taking, maverick culture. Now it’s more prudent and frequently indecisive. But what’s also true is that the Cindy era had no cost controls. It was therefore unsustainable as a business model. That’s a fact”, The Hollywood Reporter source said.
When it comes to Netflix India, there have been several reports about big producers from the film industry calling off their contract with the streaming platform and some of it also has a lot to do with rising streaming options.
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