You may have noticed the selection of movies on Netflix isn’t what it used to be, and the company admitted as much Monday, with Chief Content Officer Ted Sarandos addressing the subject at the UBS Global Media and Communications conference in New York.
Fortune reports that Sarandos said the reason can be summed up succinctly: Viewers aren’t watching movies. Sarandos reportedly said only about one-third of Netflix subscribers watch movies.
“He explained that even in Canada, where Netflix has five major movie studio output deals, only a third of viewing comes from films — the same as in the U.S., which has just one deal,” Fortune reports.
Business Insider quotes Sarandos saying: “No matter what, we end up with about one-third of our watching being movies.” Sarandos reportedly cited the delay in getting movies on the streaming service as a key factor.
Fortune adds: “Research reported on earlier this year showed that in 2014, roughly 20% of IMDb’s top 250 movies were available to watch on Netflix, whereas only around 12% were in September 2016. Additionally, Netflix’s selection of titles has dropped over 50% since 2012, according to the streaming blog Exstreamist.”