Netflix’s shares, which saw their subscriber numbers decline for the first time in more than a0 years, were also severely affected by the news. The shares, which have lost approximately 35% of their value, have fallen from $;d 350 to $220; this has dealt a serious blow to Netflix’s market value. The shares are still recovering and are currently trading at $218.
This bad news will also have a serious impact on Netflix’s operations, the first of which will be the animation department. Netflix has put the brakes on its animation efforts, with news of layoffs and the cancellation of some expected productions hitting the headlines today.
Netflix’s Director of Creative Leadership and Original Animation Development Phil Rynda has been fired, the Wrap reported, and some of the staff working for him have been fired.
The highly anticipated Bone , based on Jeff Smith’s comic book, has been cancelled. Roald Dahl’s The Twits and Lauren Fauts; and Toil and Trouble animations are among those canceled.
The Wrap’s article also says that there will be big changes, especially in the Children & Family segment, and that there will be no new seasons of some of the series that have gained notoriety.
Netflix Animations at least in the short term is not very bright, but we will also see what changes will occur in the long term.
Until then, let me leave here the trailer for season 3 of Love, Death & Robots, one of Netflix’s most successful recent jobs:
