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Netflix in chaos after subscriber loss

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Netflix Animation slashed, executives fired, shows canceled and accusations of staged data.

Phil Rynda, whose official title is Netflix’s Director of Creative Leadership and Development for Original Animation, was let go this week, along with several of his staff, TheWrap can exclusively report and Netflix has confirmed.

According to several creators who spoke to TheWrap, the Kids & Family space at Netflix Animation has changed. Series that benefited from great word-of-mouth and critical praise aren’t being renewed and several high-profile projects have been unceremoniously canceled, including the long-delayed adaptation of Jeff Smith’s beloved comic book series “Bone” (first announced back in 2019) and the witch-based animation Toil and Trouble” and The Twits”, an animated series of Roald Dahl’s beloved children’s book. 

It's unclear how many other Netflix TV series and films are similarly set for the chopping block. However, it seems that some of the streamer's biggest hits – Stranger Things, The Witcher, Arcane, and Squid Game to name just four – are all safe. 

It appears that new, in-development movies and shows are at risk of falling by the wayside. But, as we've previously seen from Netflix, the streaming giant isn't averse to pulling the plug on fan-favorite productions if deemed necessary. We're looking at you, Archive 81 and The Dark Crystal: Age of Resistance.

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The subscriber loss and falling shares have also destroyed morale and caused employees to think about leaving.

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As Netflix shares plunge to their lowest point in five years, the company risks losing its most valuable resource: its star employees.

Record decline in Netflix’s share price, precipitated by its poor financial results, has shaken employees’ confidence in the company’s long-term trajectory. It has also erased the value of many employees’ options. People who were sitting on tens or hundreds of thousands of dollars are left with nothing. 

More people are looking to leave Netflix right now than at any point in recent memory, current and former employees said this past week. Netflix employees also asked leadership to issue new stock grants to make them whole for the losses this past week, per The Information. 

This challenge will only get harder now that the company is in cost-cutting mode. Bosses will be under even more pressure to deliver, and less willing to give their subordinates freedom to make mistakes. Netflix has said it isn’t going to hire as many people, and will scrutinize spending.

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1 hour ago, Urbi said:

Exactly what I was gonna say! That’s what happens when you’re greedy!!!

They need to remember when dealing with their competition that they don't have ANYTHING else to back on. HBO Max takes a fall? Guess what - Warner Bros has other media. Same with Amazon Prime, Peacock, Disney Plus, Paramount, etc. 

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1 hour ago, Urbi said:

Stranger Thing is coming to an end. What else do they have? The Witcher - ok. Squid Game? Show that should be over after season 1? Elite - show that turned into a gay orgy in every episode? Like please!!! Amazon Prime and Disney+ have much better to offer for sure

If I could only choose 3 then I'd keep HBO Max, Hulu, and maybe Prime. I don't think Netflix would make the final cut and that's not something I would have said a few years ago. Their content quality has gone down hill and their best shows have all ended/been cancelled at this point. 

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I got a gift card for Netflix the other day for my b’day  

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