Netflix’s focus on streaming has also helped it dodge some of the other problems bedeviling its peers, including weaker-than-expected box office results for expensive blockbusters.
(That was also evident in China, which some in Hollywood had hoped could make up for underperformance at home.)
While the company will save on content spending in 2023, it will have to pay for American productions at some point.
“This strike is not an outcome that we wanted,” Ted Sarandos, the company’s co-C.E.O., told analysts yesterday.
In more strike news: Film production in Los Angeles during the second quarter fell to lows not seen since the middle of the pandemic.
Persons:
Hollywood, underperformance, Disney’s Robert Iger, Ted Sarandos, Elon Musk
Organizations:
Netflix
Locations:
China, Hollywood, Los Angeles