Netflix hopes making fewer original movies will make them better
, the streaming giant is restructuring its movie division and releasing fewer movies overall. Netflix will combine the team working on small projects with a budget $30 million or less and the unit that produces mid-budget films that cost $30 million to $80 million to make. The restructuring will result in a"handful" of layoffs — the company didn't specify a number — and the departure of two notable executives.
Despite the sheer number of titles Netflix previously released, only a few had won accolades, had reached millions of hours of streaming, or had the kind of cultural impact some of the biggest blockbusters had achieved. (According to the company's
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