Netflix has never canceled a program it deemed successful. That comes straight from Netflix co-CEO Ted Sarandos, whose time as the streamer’s chief of content put him in a prime position to replace the now-retired Reed Hastings. In a new sit-down with BloombergSarandos says the streamer has yet to cancel a show that has given the streamer the correct numbers to continue, despite the platform canceling many of the new shows it orders after only a few years.
“We’ve never canceled a successful show. A lot of these shows were well-intentioned, but appeal to a very small audience with a very big budget,” Sarandos told the magazine. “The key to this is that you have to be able to talk to a small audience on a small budget and to a large audience on a big budget. If you do that right, you can do it forever.”
In addition to a continued stream of cancellations, Netflix will also soon begin tackling password sharing, meaning subscribers who share accounts between households will soon be required to have one account per location. “This won’t be a widely popular move,” explained Sarandos’ colleague Greg Peters, pointing out that “[There will be] kind of cancel response to that.”
The crackdown on password sharing comes at the same time Netflix is beginning to lay the groundwork for a free, ad-supported tier, aiming to give the company a new revenue stream beyond subscriptions.
“We’ve found a thoughtful approach to monetizing account sharing and we’ll roll it out more widely starting in early 2023,” the company said in a quarterly statement. “After listening to consumer feedback, we will be offering borrowers the ability to transfer their Netflix profile to their own account, and for sharers to more easily manage their devices and create sub-accounts (“additional member”) , if they want to pay for family or friends. In countries with our cheaper ad-supported plan, we expect the profile transfer option for borrowers to be especially popular.”
Has one of your favorite shows been canceled by Netflix? What do you think of the crackdown on password sharing? Let us know what you think in the comments section!
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