It appears that Netflix's start to the year wasn't all that fantastic, but by the end of 2022, it seems to be making a significant and improved recovery.
As reported by Variety, the CO-CEO and chief content officer Ted Sarandos said he is feeling "better and better" about the company's $17 billion content spend budget for 2022 after a quarter in which Netflix released several of its most well-known titles of all time, saw subscriber growth after two straight quarters of losses.
Ted said, "Both the scope and scale, as well as the range and cadence of hits is improving."
He further added, "So I feel better and better about that $17 billion of content spend because what we have to do is be better and better at getting more impact per billion dollars spent than anyone else. And that's how we're focusing on it. So I think we're spending at about the right level. And as we re-accelerate revenue, we'll revisit that number, of course. But we're a pretty disciplined bunch about that."
According to the reports, Netflix's Q3 most watched films and web series are 'Dahmer: Monster: The Jeffrey Dahmer Story' by Ryan Murphy, Stranger Things season four's second half, Extraordinary Attorney Woo in Korea, Dhanush's 'The Gray Man' and Purple Hearts.
As Reported by IANS, Sarandos said, "We're in the business of entertaining our members with Netflix movies on Netflix. So that's where we focus all of our energies and most of our spending."?
Ted Further Added, "Our films are always heavily featured in film festivals around the world because they are in demand, made by the greatest filmmakers on the planet. For all those folks who can't get to a city where a festival is, this one-week release on 600 screens is a way of creating access to the film and building buzz, the same thing we are in those festivals."
For 'Glass Onion' will have a one-week theatrical release which begins on 23rd November, one month before the movie will be streaming on Netflix. Ted Sarandos says that too looks at it as another way to build up anticipation and excitement rather than comparing it to the windowing of a traditional studio film.
(With Inputs From IANS)
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