Technology
Netflix restructures film group as it scales back movie output
Video streaming service Netflix Inc is restructuring its film group, which will result in layoffs and the departure of two of its most experienced executives, Bloomberg reported on Thursday.
As part of the restructuring, Netflix will combine small and midsize picture productions units, resulting in a few job cuts, and scale back the company's output to ensure high quality titles, the report said. It will also centralize decision making of different divisions.
Lisa Nishimura, responsible for documentaries and smaller-budget films, and Ian Bricke, a vice president in the film group, will be leaving after more than a decade with the company, the report added.
Netflix did not immediately respond to a Reuters request for comment.
The company added about 7.6 million subscribers in the fourth quarter of 2022, after bleeding subscribers in the first half as rivals such as Paramount+ and Disney+ raked in viewers.
But average revenue per membership declined across regions in the last three months of 2022.
-
Technology5h ago
Eric Schmidt and Yoshua Bengio Debate How Much A.I. Should Scare Us
-
Technology13h ago
Under the influence and under arrest − what happens if you’re drunk in the interrogation room?
-
Technology13h ago
Cybersecurity researchers spotlight a new ransomware threat – be careful where you upload files
-
Technology1d ago
What a TikTok Ban in the U.S. Could Mean for You
-
Technology1d ago
What Is Artificial Intelligence Consciousness And How Far Away Is It?
-
Technology1d ago
Banning TikTok won’t solve social media’s foreign influence, teen harm and data privacy problems
-
Technology1d ago
1st self-driving car that 'lets you take your eyes off the road' goes on sale in the US — and it's not a Tesla
-
Technology1d ago
Colorado bill to regulate generative artificial intelligence clears its first hurdle at the Capitol