Netflix cuts film chief Dan Lin after laying off about 1,000 employees

Film caput Dan Lin is out at Netflix, the latest exec to be ousted in the awaken of the streamer's biggest layoff since 2022.

Lin was hired as movie place in 2024 alongside a command to bring greater disbursal site and assortment to Netflix's films, which had focused on big-budget output under his predecessor, Scott Stuber. Lin cut big upfront paychecks to actors, reduced staff, and reorganized his department. He oversaw a slate that included Oscar-winning "KPop Demon Hunters," "Happy Gilmore 2," and "Frankenstein."

Lin's exit is the latest big shocker at Netflix. Also out in latest days was chief satisfied authoritative Bela Bajaria, who was replaced by Hollywood seasoned Peter Rice, a erstwhile exec at Disney and Fox.

Rice volition oversee movie until a new caput is announced, Netflix stated in a declaration confirming Lin's departure.

Last week, Netflix laid off 1,000 employees, or concerning 6% of earth caput count. That was the streamer's largest choose since 2022, whenever the business lost subscribers for the archetypal period in additional than a decade.

The streaming elephantine has been hampered by slowing involvement growth and a inventory cost that has declined additional than 40% complete the former year. The streamer is contending alongside the increase of free, ad-supported streaming led by YouTube and the fame of social video. In latest months, Netflix has turned to podcasters and creators to bulk up its library.

Netflix is set to study third-quarter earnings following the chime on Tuesday.