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Netflix has responded to its recent drop in subscribers by announcing its intention to cancel a number of highly antipcated original shows.
If you've been paying attention over the last week, you'll know that Netflix isn't having the best time right now. The streaming giant revealed in its latest earnings report that subscriptions were down 200,000 in total from last quarter, the biggest loss the company has seen in nearly 10 years.
At least Netflix still has Stranger Things 4, right?
It's worth noting that there are many reasons for this, the biggest being that Netflix ended up losing 700,000 subscribers when it suspended its service Russia in response to the country's invasion of Ukraine. Most of the world is also facing an incredibly demanding cost of living crisis, meaning many have little choice but to cancel luxuries like Netflix subscriptions.
Even so, Netflix hasn't helped itself much. The streaming service has been widely criticised for continually raising its prices, all while cancelling shows after just one or two seasons.
Now, in response to the massive loss of subscribers, Netflix has made the incredibly odd decision to put a stop to most of its animated projects.
As reported by The Wrap, Netflix’s director of creative leadership and development for original animation Phil Rynda was let go earlier this week along with a number of his staff. Several in-development animated series have also been axed.
Shows mentioned in The Wrap's report include the long-awaited adaptation of Jeff Smith's critically acclaimed comic book Bone, and an adaptation of Roald Dahl's The Twits. Lauren Faust’s Toil and Trouble has also been given the chop.
The report goes on to claim that Netflix wants to focus more closely on projects that can attract the same number of viewers as Boss Baby, which is from DreamWorks Animation, and not a Netflix original.
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