Netflix streamed around 130 less movies, TV shows in 2023, report claims

Netflix released around 130 less movies and shows in 2023 than the previous year, as per a report in Bloomberg. The repot also claimed that it was the "lightest slate of new releases" in the period between October and December in previous the five years.

The slate concerned includes movies, television shows, documentaries, and stand-up specials.

The Bloomberg report follows the earlier announcement in 2023 that Netflix would be reducing its film output and restructuring its film units, leading to several layoffs.


Meanwhile, Netflix has defeated a lawsuit filed by shareholders in a federal court in California that accused the streaming entertainment company of hiding the extent to which account-sharing was hindering its growth.

A Texas-based investment trust sued in May 2022, after Netflix shares lost a third of their value when the company said subscribers were decreasing for the first time in a decade. The lawsuit sought damages on behalf of investors who bought Netflix shares between January 2021 and April 2022.

US District Judge Jon Tigar ruled on Friday that the lawsuit included no evidence that the company was aware of the extent of the problem for as long as the investors alleged.

The judge said the investor can refile the lawsuit if it adds facts to bolster the claims. A spokesperson for Netflix and attorneys for the trust did not immediately respond to requests for comment on Monday.

Netflix lost around half of its value between January 2022, when it warned of weak subscriber growth, and April, when shares plunged after the company said account-sharing and competition had hampered new subscriptions. Netflix's then-CEO, Reed Hastings, said at the time that the COVID-19 pandemic had made it difficult for the company to interpret subscription trends.

FAQs:

Q1. Has Netflix won the lawsuit?
A1. Netflix has defeated a lawsuit filed by shareholders in a federal court in California that accused the streaming entertainment company of hiding the extent to which account-sharing was hindering its growth.

Q2. What we can we watch on Netflix?
A2. Netflix streams movies, television shows, documentaries, and stand-up specials.