Report: Netflix to Slash Spending, Rein in Future Projects as Subscribers Flee — ‘It’s a B*tch,’ Says CEO

[link to www.breitbart.com (secure)]

The party’s officially over at Netflix following a disastrous first quarter that saw the far-left streamer lose 200,000 subscribers and predict the loss of a whopping 2 million more in the months ahead.

Now, Netflix is embarking on a course correction that involves reining in its spendthrift ways by slashing spending and cutting back on new programming, with a focus on “quality” over quantity, according to a report in the Wall Street Journal.

In some cases, budgets on new shows will be cut by as much as 25 percent.

“Well, it’s a bitch,” co-CEO Reed Hastings reportedly told employees during a town hall meeting this week.


Netflix has spent lavishly over the years to build its streaming empire, borrowing tens of billions of dollars to fund its original content. The new season of the popular sci-fi series Stranger Things costs a staggering $30 million per episode to produce, according to the Journal.

The Irishman, directed by Martin Scorsese, is believed to have cost Netflix at least $225 million.