Netflix May Cancel Expensive Vanity Projects Like Martin Scorsese’s ‘The Irishman’ Resulting in the Streamer’s Recent Drop in Subscribers.
Netflix is changing the direction of its feature films due to the loss in subscribers, and it may no longer greenlight costly “vanity projects” such as Martin Scorsese’s 2019 opus The Irishman, which costs USD 175 million.
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According to The Hollywood Reporter, Netflix aims to release “bigger” and “better” films that aren’t released in a row. According to sources, the term “bigger” used by Netflix does not necessarily imply a larger financial budget; for example, the streamer may make one film instead of making two movies for USD 10 million. “The goal will be to make the best version of something instead of cheapening out for the sake of quantity,” an insider shared. “This tendency to do anything to attract talent and give them carte blanche is going away,” another added.
Ted Sarandos, co-chief of Netflix, stated during the firm’s most recent earnings call that “some of the most popular and watched films in the world” were among Netflix’s latest titles, including Don’t Look Up, Red Notice, and Adam Project. In 2022, movies like The Gray Man — which had a budget of more than USD 200 million – and Knives Out Two will be “more impactful” than their 2021 releases, according to Netflix.
In the first decade, Netflix used started mid-budget features and rom-com that would become blockbusters, including ‘Always Be My Maybe,’ ‘The Kissing Booth,’ and ‘To All the Boys I’ve Loved Before.’
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