Netflix restructures film group to scale back movie output

Netflix is restructuring its film group in order to reduce the number of movies it makes and to centralise decision-making, reports Bloomberg.
The latest move will lead to layoffs, and the departure of two of its "most experienced executives."
The executives are: Ian Bricke, vice president in the film group, and Lisa Nishimura, in charge of documentary films, stand-up comedy, and independent films. They have served the company for more than a decade.
Lisa's productions include 13th, American Factory, Chef's Table, Making a Murderer, Tiger King, and Wild Wild Country.
The streaming giant plans to combine its small and mid-sized movie production units and lay off a few employees, and scale back its output, said the report.
Netflix has of late been grappling with a slew of issues, such as dwindling subscriber growth, and intense competition from rival streaming platforms like Disney+, Paramount+, etc.
The streaming giant in November successfully launched its new, lower-priced ad-supported plan in 12 countries. In February it cut prices of its subscription plans in a couple of countries, in order to maintain subscriber growth.

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