Netflix Cancels Projects Due to Financial Problems

The world’s most popular digital content platform Netflix, recently announced that it lost subscribers for the first time in 10 years and saw a big drop in its shares. After that, the giant platform announced that they were ‘open’ to a subscription package that had a low price and included ads, giving the green light to what it had been opposing for years.

In addition, yesterday’s news, Netflix’s popular series of Stranger Things He showed that he spent 30 million dollars per episode and 270 million dollars in total for the highly anticipated new season. However, the loss of subscribers and the decline in shares led to questioning how logical such moves were. Now, it has been revealed that Netflix has taken new steps due to the problems experienced.

Many productions have been canceled

According to reports by The Wrap, Netflix has released many productions. stopped developing. Most affected by this animation department was recorded. The reasons for these decisions were the recent loss of subscribers, the withdrawal of the platform from Russia, where it has 700,000 users, and the great decrease in its market value. In addition, it can be said that Netflix’s estimation of losing 2 million subscribers by June was also effective in this decision.

In the news of The Wrap, it was reported that the famous filmmaker Phil Ryndha, who worked as a manager in a part of the animation department, and many employees there were dismissed. Moreover; The Twits, Bone and Toil and Trouble It was stated that the highly anticipated animations such as Sequel to Bright, starring Will Smith of Bright 2 It was also among the news that it was stopped. Of course, there is a high probability that the cancellation of this movie is related to Will Smith’s slapping of Chris Rock at the Oscars.

For now, it is unknown how many Netflix content has been canceled in total. However, the platform; From now on, worldwide popular productions such as Arcane, Stranger Things, The Withcer and Squid Game will not be affected we can say.

Despite such news, it would not be wrong to state that Netflix still dominates the global market with a total of 221.64 million subscribers. However, another popular platform the other day HBO MaxIt was announced that by gaining 13 million subscribers in a year, the total number of users exceeded 76 million. Moreover Disney Plus He also stated that he has 129 million subscribers worldwide. These news had recently revealed that Netflix’s throne could be shaken.