Netflix has released a promotional video that reveals some of the upcoming original movies that will be released in 2023. However, compared to 2022, Netflix will release 50% less original movies. In concrete numbers, the streaming giant will release 49 titles, which is really not a lot if we consider the whole year and especially what happened in the previous year.
Netflix will release 50% fewer movies in 2023. Do you know why?
As I mentioned above, last year the number of launches was higher. In practice, there were 89 films in 2022, a clear indicator that the company is playing it safe in 2023. Despite this, there are some interesting films that are really worth watching.
Some of the notable movies on the list include Extraction 2 (a sequel to the identically named action thriller released in 2020, starring Chris Hemsworth). We also have The Mother, starring Jennifer Lopez (originally released in 2022), They Cloned Tyrone with Jamie Foxx and Idris Elba and Luther: The Fallen Sun.
But what is the reason for this drastic cut?
Despite some success this company lost subscribers in the first and second quarter of 2022. In fact, it was the first time since 2011. Increased competition, account sharing and adverse global economic circumstances are some of the reasons why Netflix lost subscribers. In fact, this company had to lay off some of its workers in 2022.
Second, Netflix seems happy with its portfolio of productions in which it has invested massively over the last decade.
This means that the company is changing its focus. Thus, it prioritizes quality over quantity, now that it has a very solid portfolio of films and series to maintain its subscriber base. Of course, Netflix can’t completely abandon the creation of new films. But it can decrease.
Finally, Netflix may also be considering the ongoing adverse global economic situation. Is that a study by KPMG reveals that 61% of consumers intend to reduce some more superfluous expenses in 2023.