(NewsNation) — Responding to dual strikes disrupting production nationwide, Netflix released about 130 fewer original programs last year, marking a 16% decline compared to 2022, Bloomberg reported.
Despite a decadelong trend of increasing original content, Netflix experienced a drop in output across all major programming categories each quarter in 2023, according to What’s On Netflix, a site tracking the streaming giant.
The final quarter of the year witnessed the lightest slate of new releases in five years, encompassing movies, TV shows, documentaries and stand-up specials.
The declining output was seen particularly during the strikes by writers and actors. In this period, Netflix released approximately 60 fewer series, constituting a 25% decrease.
The aftermath of the strikes is expected to linger, affecting Netflix’s release schedule for the next couple of years. While work on 2023 releases was largely completed, projects slated for 2024 and 2025 faced delays or cancellations.
This trend extends beyond Netflix, with the broader Hollywood landscape experiencing a thin 2024 movie slate due to several significant titles being pushed to 2025.
Beyond the strikes, Netflix has articulated a strategic shift to produce fewer, but hopefully higher-quality, projects. Netflix film chief Scott Stuber outlined this approach, Bloomberg previously reported, signaling a long-term adjustment in the streaming giant’s content creation strategy.
Despite the reduction in output, Netflix’s business remains robust. The company added over 16 million customers in the first nine months of 2023, according to Bloomberg, with expectations of further growth in the final quarter. The decline in output has not significantly impacted customer retention rates, which are notably lower than those of competitors.
Netflix’s ability to maintain spending, reduce output, and increase sales is attributed to its crackdown on password sharing and the introduction of a more affordable, advertising-supported tier.