Netflix’s declining subscriber base and stock prices are a sign of its decline, raising questions about the company’s growth prospects in this increasingly competitive streaming industry.
MoffettNathanson Research analysts stated that the company had found a way to maneuver safely before they hit the wall in almost every impasse it has faced. It feels different this time, as the first quarter 2022 earnings report, investor letter, and video interview showed a company that was more shocked by the situation and less certain about the future.
Netflix has already taken steps to reduce costs and pulled the plug on several shows. An animated series that Meghan Markle created, with the working title “Pearl”, is the latest victim. It was one of many programs being developed by Archewell Productions by Prince Harry and Meghan Markle as part of their estimated $100 million Netflix deal.
Netflix’s recent cancellations are a reminder that there is no safe series, given the pressure to produce high-quality shows and compete against the slew of streaming services. What is Netflix’s method of deciding which shows to cancel? Variety reports that cancellation and renewal decisions are based on viewing data and not cost.
These are the shows Netflix has pulled from its lineup for 2022.
After two seasons, the Latino-themed drama “Gentefied” was cancelled by America Ferrera (of “Ugly Betty”) in January. The critically acclaimed series, which was created by Marvin Lemus & Linda Yvette Chavez and focused on the lives and struggles of a Mexican-American family, premiered on Netflix in February 2020. The show won a loyal fan base who praised its authenticity and realism.
The Guardian called Paris Hilton’s parody of a cooking show “a rare work by comic genius”, but Rotten Tomatoes critics called it “a missed chance.” Paris Hilton’s parody included celebrity guests, diamond-studded kitchen utensils, and words not used often by TV chefs, like “Ew.” After six episodes, the show was cancelled. Fans got to see Kim Kardashian and Paris make a frittata.
The short-lived series “Another Life”, unlike other Netflix shows, was not a huge success with critics. After two seasons, fans of the sci-fi series were informed by Katie Sackhoff (who played Niko Breckenridge), that the show was ending. “I would like to thank every single person who supported Another Life on Netflix. Our cast and crew thank you for being so prepared and working hard. We wish we could have more seasons, but it is not possible. We look forward to seeing you in the next adventure. The actress shared the following: “Love Niko.”
The comedy “The Baby-Sitters Club”, based on Ann M. Martin’s best-selling books, was about a group of young women who start a babysitting service. Entertainment Weekly called it a “heartwarming reboot” while Vanity Fair described it as “near perfect.” The show received a 100% rating on Rotten Tomatoes, and even reached the No. According to Collider.com, the 9th spot on Netflix’s Top 10 was for just one week. However, viewership numbers didn’t show that quality was more important than quantity when it came to viewing. To the disappointment of critics and fans, Netflix ended the teen series after just two seasons.
After two seasons, Netflix’s April decision not to renew children’s series “Raising Dion,” elicited many broken-heart emojis via social media. The series was based on a comic by Dennis Liu, and produced by Michael B. Jordan (of “Creed”, and “Black Panther). It told the story of Alisha Wainwright, a widowed single mother who discovers that her 8-year old son (Ja’Siah Young), has superpowers thanks to his father’s science experiments.
Netflix’s sitcom is about Emily Osment, a young Harvard-educated woman who moves in with Olivia Macklin, her bubbly West Coast sister after she was dumped by her boyfriend. The comedy ensues, but only for one season. Netflix has cancelled the show after it received mixed reviews. The latest Netflix program is “Pearl”, which was the working title for a family-focused animated series that Meghan Markle created. It focuses on the adventures and inspirations of a 12-year old girl who loves women in history. Archewell Productions, owned by the Duke and Duchesss of Sussex, announced the agreement in July 2021. According to the Associated Press, Markle would serve as executive producer of the show alongside David Furnish (the husband of Sir Elton John), who previously worked as a producer for “Rocketman” and “Sherlock Gnomes.”
Markle stated that she was thrilled Archewell Productions partnered with Netflix and the incredible producers to bring you the new animated series. The series will celebrate extraordinary women from history.
They signed a multiyear agreement to produce documentaries, nature series and children’s programming on the streaming platform.
