Netflix recently cancelled two of its original shows, and one of its execs has just said why.
Speaking to Jerry Seinfeld – whose show 'Comedians in Cars Getting Coffee' is coming to Netflix soon – chief content officer Ted Sarandos said that both 'The Get Down' and 'Sense8' were proving too expensive.
"Relative to what you spend, are people watching it?" Sarandos said. "That is pretty traditional. When I say that, a big, expensive show for a huge audience is great. A big, expensive show for a tiny audience is hard, even in our model to make that work very long."
According to some estimates, 'The Get Down' cost an eye-watering $12 million per episode, while 'Sense8' wasn't much cheaper, at $9 million.
The firm's CEO Reed Hastings recently said he wants to cancel more shows. Why? Because Netflix's "hit ratio is way too high right now".
In other words, he fears that it's not taking enough risks, and is going for safe bets rather than pushing the envelope.
Netflix is investing huge sums in original content right now. 'Sense8' was produced by the Wachowskis, the people behind 'The Matrix', while 'The Get Down' was the pet project of Baz Luhrmann. Which proves that even having big names attached to a show is no guarantee of success.
Source: The Independent