There’s the terrible saying that goes, “Money can’t buy you happiness.” While that’s obviously true in some respects, there are plenty of things that money can buy. Just ask Netflix. The streaming service has used billions and billions of dollars to not only purchase tons of original shows and films but also to earn respectability and credibility in an industry that views the company as a pesky disruptor. But after developing the reputation of spending its way to the top, it appears that Netflix is going to be more frugal in the future.
According to a new report from The Information (via Engadget), the streaming service has decided that the key to the future is not just to spend money but also be smarter about what it spends that budget on. The report says that recently, Netflix content chief Ted Sarandos told several of his TV and film executives that the company was going to stop spending vast sums of cash on big-budget projects unless there is a guaranteed return on that investment.
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The report claims that one of the projects that was explicitly named was the J.C. Chandor film “Triple Frontier.” That film, which stars Ben Affleck, Oscar Isaac, Pedro Pascal, Charlie Hunnam, and others, cost upwards of $115 million to produce, was mildly received by critics and apparently turned out to be a flop for the streaming channel.
After years of Emmy nominations and last year’s Oscar wins for “Roma,” Netflix doesn’t have anything to prove anymore. The streaming service has had plenty of hits and critically-acclaimed series and films that there’s no reason to spend loads of cash on risky projects.
Obviously, that doesn’t mean Netflix is out of the big-budget game. Just recently, the streaming service announced plans to develop a new series based on the DC Comics series “Sandman,” which is expected to carry a hefty price tag. There’s also the upcoming “The Witcher” fantasy series which stars Henry Cavill and will likely be one of the more costly series on TV. On the film side, Netflix just announced plans to finance a new sci-fi/thriller from filmmaker George Clooney and has recently purchased the rights to the film “The Division,” which stars Jessica Chastain and Jake Gyllenhaal.
Needless to say, Netflix isn’t going to be the cheapskate of the Streaming Wars. Just more strategic. We’ll have to see how that pans out in the months to come.
