Netflix is going to be a bit more selective on the projects they spend millions of dollars on. Triple Frontier reportedly didn’t perform up to the streaming giant’s expectations, which has led to a tighter grip on where money will be allocated in the future. Netflix has been known to dump millions of dollars into its original content and they are more than likely starting to feel the competition getting stronger with Disney+ and Apple on the way.
Netflix content chief Ted Sarandos reportedly told several of his high-ranking TV and movie executives in early June that the company has to be a lot more selective with what they spend their money on. The Ben Affleck action thriller Triple Frontier cost $115 million and is one of the projects that was brought up when talking about the new business practices going forward. Apparently, projects based on credibility and critical acclaim will not be given gigantic budgets anymore. Instead, the money will reportedly go into slam dunks, which are guaranteed to generate more viewers.
While the outrageous spending seems like a frivolous idea, it has given Netflix a lot of credibility at the same time. Movies like Roma and shows like Stranger Things and The Crown have gone a long way in proving how valuable Netflix is in the grand scheme of things. It will be interesting to see how things go in the future with the streaming platform being more choosey with what they’re throwing money at. As far as Triple Frontier being a “flop,” it just means there weren’t enough viewers checking the movie out on the streaming service or in its initial theatrical run.
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Netflix is slated to spend $15 billion on original content in 2019, so money isn’t really an issue. It seems over the years, through trial and error, the streaming platform has a better idea of what works for them at this point in time. In theory, they should be getting ready for some homeruns since they seem to be getting their system put in check. For now, we’ll just have to wait and see, but they company appears to be just as good, if not better, than it ever has before. The numbers for Stranger Things season 3 should be massive on their own. And Adam Sandler’s Murder Mysterywas one of the biggest hit movies the streaming giant has had yet,
Triple Frontier is not the only project that has been a headache for Netflix. Baz Luhrmann’s hip-hop series The Get Down cost $120 million and did not perform as well as anyone thought it would and the same can be said for the Marco Polo series, which cost $200 million to produce. With that being said, Netflix has Martin Scorsese’s The Irishman on the way this fall, which could possibly prove to the be the biggest project thus far. The Information was the first to report about Netflix’s future spending habits.