Netflix Drops One Film a Week Plan

In its latest fourth-quarter earnings announcement, Netflix unveiled 49 films for its 2023 film slate. This is a departure from its release of one film a week in the previous year. The streaming giant released a total of 61 English-language, live-action titles; five animated features; three anime films; and 17 live-action movies in other languages last year. This year, Netflix is offering viewers new and returning titles. They include ‘Chupa’, ‘Extraction 2’, ‘Heart of Stone’, ‘Pain Hustlers’, ‘Leo’, ‘Murder Mystery 2’, and a host of others.

Netflix also disclosed that the Duke and Duchess of Sussex documentary ‘Harry & Meghan’ is its second most successful documentary series ever, while ‘Stranger Things 4’ and ‘Wednesday’  recorded one billion hours of views. Also on the Top 10 Most Popular English Language TV seasons ever are ‘Monster: The Jeffrey Dahmer Story’, ‘Bridgerton S2’ and ‘Inventing Anna’.

‘Glass Onion: A Knives Out Mystery’ which was released last year is among the Top 10  Most Popular English Language Films ever while in the non-English category, ‘Troll’ (Norway) and ‘Loving Adults’ (Denmark) are among the films. Also, South Korea’s ‘All of Us Are Dead’ is among the streamer’s Top 10 most popular non-English TV Shows ever.

Korean titles, according to recent data, were consumed by over 60 per cent of Netflix subscribers last year. The streamer will be releasing about 34 Korean TV series, films and unscripted shows. They include ‘Destined With You’, ‘Unlocked’, ‘The Devil’s Plan’ and ‘In the Name of God: A Holy Betrayal’

Netflix also added 7.7 million subscribers in the last quarter of 2022. The streamer now has 231 million subscribers, and generated about $7.85 billion in revenue in the fourth quarter, a nearly 2 percent increase from a year earlier. The company generated about $55 million in profit.

For the first quarter of 2023, Netflix forecast a revenue growth of 4% and will roll out paid sharing more broadly.

The company announced too that one of its founders Reed Hastings will be ceding his co-chief executive title. He is now Netflix’s executive chairman while Greg Peters, the company’s chief product and chief operating officer, will join Ted Sarandos as a co-chief executive. In addition to these changes, Bela Bajaria, formerly Head of Global TV, has become Chief Content Officer and Scott Stuber has become Chairman of Netflix Film.

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