Netflix cut about 1,000 jobs, roughly 6% of staff, then replaced content chief Bela Bajaria with Peter Rice a day later. The company did not disclose what the cuts save, so Tuesday's earnings report is the first place a cost figure could appear.
Perspective Coverage
15 publishers
- Builder
- Builder 13%
- Operator
- Operator 44%
- Investor
- Investor 43%
Reality
- Evidence74
- Adoption
- Not scored
- Hype gap+25
- Incentives35
- Confidence78
Netflix is cutting about 1,000 jobs, 6% of its workforce, in its largest layoff to date, according to a memo from co-CEOs Ted Sarandos and Greg Peters. The shares are down more than 40% in 12 months, the Wall Street Journal reported, and earnings land on Oct. 20.
Perspective Coverage
34 publishers
- Builder
- Builder 14%
- Operator
- Operator 36%
- Investor
- Investor 50%
Reality
- Evidence82
- Adoption
- Not scored
- Hype gap+15
- Incentives
- Not scored
- Confidence80
buildOne report1 publisher Paramount's $111 billion Warner Bros. Discovery takeover closes under the Skydance name
Paramount closed its $111 billion purchase of all Warner Bros. Discovery assets on October 6 and renamed the merged company Skydance. Netflix bid only for the studios and streaming, so CNN now shares an owner with HBO Max and CBS.
Reality
- Evidence55
- Adoption
- Not scored
- Hype gap+10
- Incentives60
- Confidence60
Netflix plans to cut about 5% of its roughly 16,000 full-time staff, around 800 jobs, as soon as next week, Puck News reported. The cut comes in a profitable year, and the teams that lose people will show whether Netflix is funding new bets or protecting its margin.
Perspective Coverage
7 publishers
- Builder
- Builder 8%
- Operator
- Operator 39%
- Investor
- Investor 53%
Reality
- Evidence55
- Adoption
- Not scored
- Hype gap+10
- Incentives
- Not scored
- Confidence60
Netflix co-CEO Ted Sarandos calls growth too slow with engagement up 2%, while about $1 billion of a $20 billion content budget goes to live shows. He says that money is for winning and keeping subscribers and selling ads, so hours watched is the wrong test of it.
Perspective Coverage
4 publishers
- Builder
- Builder 9%
- Operator
- Operator 26%
- Investor
- Investor 65%
Reality
- Evidence70
- Adoption30
- Hype gap+15
- Incentives55
- Confidence65
Netflix ends its six-year David Fincher deal amid a run of director exits
Netflix is ending its six-year production deal with David Fincher, the arrangement behind Mank and The Killer. Shawn Levy and the Duffer brothers have also gone, though the director deals Netflix keeps suggest it is choosing fewer, bigger bets.
Reality
- Evidence55
- Adoption
- Not scored
- Hype gap+25
- Incentives35
- Confidence50
Trading the movie tariff for a tax credit moves the contest from the border to the states
Trump now backs a federal production incentive instead of his 100% tariff on foreign films, which leaves Congress to decide how a national credit sits on top of the programs Georgia, Louisiana and New York already run.
Reality
- Evidence58
- Adoption
- Not scored
- Hype gap+42
- Incentives72
- Confidence54