Netflix Climbed amid Movie Output Slash and Layoffs

On Friday, shares of Netflix Inc went up in its US trading after analysts reported that the streaming giant is regulating its film sector.

The company’s stock price increased by 2.08% to $345.48 apiece on March 31. Likewise, it will rise by 0.05% to $345.65 per share in the next session.

Its Movie Unit Head, Scott Stuber, plans to control the number of titles produced. This move is an effort to ensure the films are of better quality.

Typically, Netflix raced faster than its Hollywood peers in putting out movies, producing around 50 pictures a year.

According to experts, the group will unite divisions that create small and medium-sized projects. However, its actions could lead to layoffs and the departure of long-term heads.

They added that Stuber expects more top-level collaborations as decision-making at Netflix will be more centralized. 

Previously, the firm had a hiring spree to fill spaces on segments. The newly hired were assigned to produce movies with different ranged budgets.

Alterations came in after Netflix slashed hundreds of jobs in the previous year. It was an effort to balance the subscriber growth slowdown and cost cuts. 

Also, it offered its customers a lower-priced streaming plan with advertising. To raise revenues, it cracked down on account sharing between users.

Television Games Planned by Netflix

A new feature is being worked on by Netflix, which could bring mobile games to television. It would allow iPhones to be utilized as video game controllers based on a hidden code on its iOS app.

App Developer Steve Moser discovered the hidden code. Moreover, the data show hints of a significant move from the streaming company as it shifts from devices like smartphones and tablets to the big screen.

Last week, the VP of external games of the firm said they want games accessed on Netflix devices.

In addition, it announced a job listing for a game director to be in charge of a AAA PC game last November. Also, an analyst mentioned that the entity would expand into cloud gaming.