Netflix ‘cancels many series and movies’ amid massive subscriber loss

Popular streaming service Netflix saw its share price drop nearly 40% after it announced it lost 200,000 subscribers earlier this month

Netflix is ​​reported to have canceled many TV shows and movies after losing subscribers recently.

The streaming service’s share price fell nearly 40% after it announced it lost 200,000 subscribers earlier this month.

This is the first time their customer base has not grown in a decade – and they are expected to lose millions more by June 2022.

According to The Wrap, Netflix has now pulled the plug on many of the growing Netflix shows.

Among some of the hacked titles were adaptations of Jeff Smith’s Bone comic book series and Lauren Faust’s Toil and Trouble.

A version of Roald Dahl’s The Twits is still ongoing in a different format, but more of a feature film than an animated series.

The Bright 2 feature film, which was set to star Will Smith, has also been canceled but reports suggest it may be related to the actor’s infamous slap at the 2022 Oscars.

There are also major staffing changes with Phil Rynda, Netflix’s Director of Creative Leadership and Development for Original Animation as the company’s animation division is said to have been hit the hardest by the issues. .

It’s unclear how many Netflix series and TV series are set for the tight block.

Still, it seems that some of the streamers’ biggest hits – Stranger Things, The Witcher, Arcane and Squid Game, just to name a few – are safe.

The Mirror has reached out to a Netflix representative for comment.