00:00 Netflix has cut more than 100 shows and shrunk its output of original programming last year,
00:05 according to a new report.
00:07 The news comes after a year of strikes from both actors and writers and an overall downward
00:11 trend for some of the largest entertainment companies.
00:14 Bloomberg notes that over the last 18 months, several major media companies have made significant
00:19 cuts with both Walt Disney Company and Warner Bros. Discovery reducing staff and budgets.
00:26 According to Forbes, Netflix released roughly 130 fewer original programs last year than
00:31 in 2022.
00:33 Netflix had the fewest number of releases in the last quarter of 2023 than in any year
00:37 before and cut back on its production of stand-up specials, movies, TV shows and documentaries,
00:44 according to a Bloomberg analysis.
00:46 Some of the original shows that were canceled at Netflix in 2023 include Sex Education,
00:52 Firefly Lane, Human Resources, and Bling Empire.
00:56 A Netflix executive told Variety, "Right now, we're not trying to hit a set number
01:01 of film releases.
01:02 It's about, let's make what we believe in."
01:05 (upbeat music)
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