Netflix has reportedly cancelled multiple TV shows and movies after its recent subscriber loss.
The streaming service’s stock price fell by almost 40 per cent after it announced a loss of 200,000 subscribers earlier this month.
It is the first time its customer base has failed to grow in a decade – and it expects to lose millions more by June 2022.
According to The Wrap, Netflix has now pulled the plug on numerous in-development Netflix shows.
Among some of the axed titles are adaptations of Jeff Smith’s comic book series Bone and Lauren Faust’s Toil and Trouble.
A version of Roald Dahl’s The Twits is still going ahead in a different format, but as a feature rather than an animation series.
Feature film Bright 2, that was set to feature Will Smith, has also been cancelled but reports claim it could be related to the actor’s infamous slap at 2022 Oscars.
There’s also been big personnel changes with Phil Rynda, Netflix’s Director of Creative Leadership and Development for Original Animation as the company’s animation department is said to have been hit the hardest by the issues.
It’s unclear how many Netflix TV series and films are set for the chopping block. However, it seems that some of the streamer’s biggest hits like Stranger Things, The Witcher, Arcane, and Squid Game, to name just a few, are all safe.