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VIRAL EXCLUSIVE
Feb. 1, 2024
What Scott Stuber’s Departure Means to Netflix?
Netflix’s head of films previously unveiled the day before the Academy Award nominations that he would be leaving the streaming platform to start a new media company. We look into how his exit could potentially affect the business and future of Netflix. By: Dylan Low
News
of his departure was not a complete surprise, with rumours of his exit in the
open for some time and sources that the executive has been discussing with
investors regarding a solo venture.
With
one of the most influential jobs in the filming space now vacant, this will
likely interest multiple people who are bolstering their resumes, such as
former Warner Bros. chairman Toby Emmerich, Paramount’s ex-motion picture group
president Emma Watts and executive-turned-producer Dan Lin.
It
remains uncertain how Stuber’s farewell will impact Netflix’s film strategy,
that recently transitioned away from being a volume business. It directly
opposes Amazon, which has shown high activity with support from film chief
Courtenay Valenti and the head of marketing Sue Kroll. Apple has also been
making moves in the film and entertainment industry, which has helped to bring
in top talent such as Martin Scorsese (director of Killers of the Flower
Moon) and Ridley Scott (filmmaker of Napoleon).
Stuber
first joined Netflix in 2017, by besting several executives for the position.
It came with profitable benefits (multi-billion-dollar content spend) and
obstacles. Theatres were initially sceptical about partnering with Netflix and
many leading directors featuring their films in cinemas for extended runs,
which competes against Netflix’s core business model.
With Stuber at the helm, he made significant contributions by raising the company’s original film output and forging crucial partnerships with notable Oscar winners Alfonso Cuarón, Spike Lee and Scorsese.
He
was of the perspective to produce films of quality over quantity. “We’re not
trying to hit a set number of film releases,” he mentioned in an interview.
“It’s about ‘Let’s make what we believe in.’ And let’s actually put forth a
slate that we can stand behind.” He also called for the company to be
clearer with viewership data and provide more films with an exclusive
theatrical release, which Netflix’s co-CEO Ted Sarandos initially
opposed.
Sources
that knew of his departure claimed there was no ownership feud, as Stuber looks
to continue working together with Sarandos and chief content officer Bela
Bajaria on upcoming future projects. For his new company, Stuber had already
planned capital and will pay attention in creating bigger, more populist fare
similar to the movies he produced like blockbuster R-rated comedy Ted
and Melissa McCarthy’s Identity Thief. He looks to work alongside
Netflix, only now he will have to ask for his replacement’s approval instead of
decision-making for their plans.
The
successor to Stuber will be tasked to determine the role of Netflix in a
fast-paced film business. There still remain unanswered questions, such as
whether Netflix will attempt to achieve the quality aspired by Stuber but had
previously failed, or choose to leave the prestige pictures to Apple and Amazon
by focusing on filmmaking for the largest common denominator.
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