Netflix Didn’t See Much ‘Interruption’ in Launch of Original Shows and Movies Because of Strikes, Co-CEO Ted Sarandos Claims
04.12.2023 - 20:45
/ variety.com
Todd Spangler NY Digital Editor Ted Sarandos is happy the twin Hollywood strikes are over — but the Netflix co-CEO claimed the streamer didn’t see significant “interruption” in its ability to launch original series and films. “We are mostly just thrilled that the strikes are behind us.
I’m really excited about that,” Sarandos said, speaking Monday at the UBS Global Media and Communications Conference in New York. Sarandos, who was among the studio CEOs at the bargaining table for the contentious WGA and SAG-AFTRA negotiations, commented about the post-strike environment, “It’s one of those times when nobody says, ‘We have too much content.'” But, he continued, “We didn’t really have much interruption in our delivery to customers.” “Not that COVID was good for anybody, but it did give us muscle for delivering content in an uncertain time,” the exec said.
In 2024, Netflix is gearing up to launch new seasons of “Bridgerton,” “Cobra Kai” and “Emily in Paris,” Sarandos said, while later this month the streamer is set to bow Zach Snyder’s first “Rebel Moon” film (which the exec called the filmmaker’s “Star Wars”) as well as Oscar contender “Maestro,” the Leonard Bernstein biopic from Bradley Cooper. That said, during much of 2023, Netflix saw original productions delayed by the now-resolved WGA and SAG-AFTRA strikes.
In October, the company told investors its cash content spending for the year will be about $1 billion lower than expected due to the strikes; that is helping Netflix boost free cash flow for full-year 2023 to about $6.5 billion (up from the prior forecast of $5 billion). Overall, Netflix is still targeting a $17 billion content budget for 2024 on a cash basis, Sarandos said.
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.