Netflix set to shake things up for 2023
From leadership changes, the welcoming of their new ad-tier and the display of their impressive slate of features set to grace the streaming veteran, Netflix has a lot going on. Adding almost 7.7 million subscribers last quarter, many are evidently still gravitating to the platform, which welcomed it’s new ad-based subscription package in November 2022. Saying goodbye to its impressive performance of last year, Netflix is only focussed on bigger and better things to come.
On 19 January, Netflix announced that Ted Sarandos and Greg Peters were instated as Co-CEOs, with Reed Hastings, founder and former Co-CEO relinquishing his position and taking on the role of executive chairman. Sarandos, who has held the role since 2020, is joined by Peters, former Chief Operating Officer. Supported wholeheartedly by Hastings, who in a statement for Netflix remarked on the two new Co-CEOs ability to navigate the trials of COVID and “ensuring Netflix continues to improve” whilst championing revenue growth.
“Ted and Greg have developed great trust and respect for each other through their collective successes and failures,” commented Hastings in his statement for Netflix. “In addition, they can always be relied upon to put Netflix’s interests first. These qualities — combined with their complementary skill sets, deep knowledge of entertainment and technology, and proven track record at Netflix — create a unique opportunity to deliver faster growth and greater success long term with them as co-CEOs.”
Hastings, who has been applauded for his clear and decisive vision for the future of Netflix, was able to see in the arrival of the new ad-based subscription package that’s the streaming platform offers. In addition to it Q4 subscriber growth which exceeded Wall Street expectations by more than 3 million. A report by Ampere Analysis saw that since the launch of the new tier, daily subscription signups increased by 50% during the first few days of its existence. Following it less than optimal performance in the first half of 2022, this transformation is surely welcome.
Riding the wave of excitement, both internally and externally, Netflix is ramping up its scheduled programming with the return of some fan favourites and new star studded features. Releasing their Save the Dates campaign, Netflix teased some of their upcoming and much awaited projects such as Murder Mystery 2, the comical whodunnit starring no strangers to each other on screen Jennifer Aniston and Adam Sandler, pulpy action mystery They Cloned Tyrone starring John Boyega, Jamie Foxx and Teyonah Parris and sci-fi spectacle Rebel Moon created by Zack Snyder.
Images courtesy of Netflix
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