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and Aladdin The company’s commitment to strong feature films will continue as producer Dan Lin takes over Netflix’s film leadership from Scott Stuber. The streamer’s co-CEOs said this on Thursday during the company’s conference call to discuss its first-quarter earnings report.
Answering questions from analyst Richard Greenfield new york times Reports characterizing Lin’s mission are to make movies on Netflix “better, cheaper, and less often,” and how such a formula is possible, but Netflix Ted Sarandos of “We did not participate in that article,” countered.
Sarandos added: “This is not a quote from Dan.”
“We have no intention of reducing the number of movies we make,” Sarandos said. The company released about 50 original features last year alone, including one by the Russo brothers that cost the studio more than $200 million at a huge cost the previous year. gray man, High class photos like Noah Baumbach white noise That’s as much as $140 million. And it doesn’t have the downstream revenue of a typical major studio theatrical title.
Sarandos added:[There is] An endless desire to make better movies. ”
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The executive continued to stand by his message after saying during the company’s fourth-quarter earnings call in January that “we’re not changing our strategy or structure when it comes to movies” after Stuber.
“We’re very excited to have Dan join the company. He started a few weeks ago and he’s been going 160 miles per hour,” the Netflix chief added today.
Sarandos promoted Lin’s accomplishments on the streamer, noting that he produced both Oscar-nominated films. two popes and series Avatar: The Last Airbender. “He really understands Netflix and the audience,” Sarandos said.
In major earnings news, Netflix announced on a conference call today that it will stop reporting quarterly subscriber numbers starting in 2025, but consider how the company’s stock price will fluctuate based on these numbers This is a remarkable turning point. Netflix added that it will continue to report subscriber milestones on a regular basis.
