The streaming platform Netflix has decided to change its approach and prioritize quality instead of quantity in its strategy for acquiring new content. During the long period in which it has solidly led the streaming market, Netflix has opted for mass production of content, which allowed them to grow in subscribers during the past decade; But in this new era marked by fierce competition – which has led to a decline in its market share – the company has embarked on a new path that now leads to a careful selection of its new titles.
In this new panorama, Netflix has been forced to make profound and painful changes. The cost cutting has affected the original production of content and the conditions of use of the platform that it has imposed on its clients. During this last year, the ban on sharing accounts and the introduction of advertising-supported subscription levels were determined. Now the focus is on content, as was seen during the Toronto International Film Festival (TIFF).
During TIFF, Netflix stood out for acquiring films that were attractive to a wide audience and had great commercial potential. These titles cover genres popular with subscribers, such as true crime and romantic comedies.
Among the notable acquisitions is Anna Kendrick’s directorial debut Woman of the Hour, a true crime film that follows a psychopath who selects his victims on a television dating show.
Additionally, Netflix has acquired Hit Man, Richard Linklater’s latest thriller about a hitman, as well as two documentaries, Mountain Queen: The Summits of Lhakpa Sherpa, which explores exotic landscapes and customs, and American Symphony, centered on musician Jon Batiste.
Taking into account that the platform invests a large sum of money in series such as One Piece or Stranger Things, the amount of its new acquisitions stands out. For example, Anna Kendrick’s film was priced at $11 million, while Richard Linklater’s was produced with a budget of $20 million.
Speaking to The Wrap, an anonymous distributor executive appreciated this change of course by Netflix and highlighted that “streaming companies now prefer to spend a lot of money on one or two movies that excite them, instead of spending a lot of money to fill lists or fill the channel with mediocre content.
