The layoffs come following an announcement to investors earlier this year that they’d lost 200,000 subscribers at the end of the first quarter.
. The big question is whether streamers will be able to recapture revenue once generated via other distribution channels, such as advertising, international sales, and theatrical distribution.Support for LAist comes fromThe majority of the Neflix layoffs affect U.S. staff. Netflix cited “slower revenue growth” as the reason for the layoffs, looking to keep their costs in line with that adjusted speed.
The company committed in their most recent earnings call to cost-cutting that would keep their profit margins at 20%. They’re not the only streamer making cuts — HBO Max parent company Warner Bros. Discovery, following the acquisition of WarnerMedia, has also made a number of cuts. However, those have been focused on the executive ranks thus far.
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