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Netflix plans to keep revving up its movie slate in the coming year, although the volume of new releases will grow at a steadier pace following the ramp-up of the past 18 months, Netflix executives told investors Tuesday in discussing the company’s Q4 2019 earnings.
Ted Sarandos, Netflix’s chief content officer, and Netflix chief Reed Hastings told investors during the company’s quarterly earnings interview with Michael Morris of Guggenheim Securities, that being a contender in awards season is very much part of the business model. Netflix led all studios in Oscar nominations this year with a total of 24 bids, paced by Martin Scorsese’s “The Irishman” (10) and Noah Baumbach’s “Marriage Story” (six).
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“It’s exciting that we ended up being the most-nominated studio at the Oscars with those films. The most exciting thing is those films are all incredibly popular with our members as well,” Sarandos said.
Hastings emphasized that Netflix sees awards as important to drawing top talent, a vital asset at a time when competition for shows and talent deals is fierce as Netflix faces a surge of subscription and ad-supported streaming competition in the coming year.
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“The business benefit is that we will win deals that wouldn’t have otherwise for incredibly strong content,” Hastings said.
Sarandos pointed to the growth of the company’s internal production capabilities on the film side. And he cited feature animation as a big area of focus for the company. “Klaus,” the first Netflix original animated pic, was a “real crowd pleaser” and it nabbed an Oscar nom, allowing Netflix in the...
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