From Nasdaq:

Scott Stuber, the driving force behind Netflix Inc.’s ascension to Hollywood’s top movie studio, is leaving in March. Stuber plans to launch his own business, according to a Bloomberg report. Netflix will search for a new leader, and Stuber’s departure could potentially impact the company’s future growth and strategy in the film industry.

Under Stuber’s leadership, Netflix’s feature business ventured into the blockbuster realm, attracting renowned filmmakers. Netflix consolidated its film group and concentrated on producing fewer, high-quality films. Stuber’s departure could affect the company’s future growth and strategy. Netflix reported around 247.2 million global paid subscribers by the third quarter of 2023. This consolidation led to layoffs and the exit of experienced executives, Lisa Nishimura and Ian Bricke.

Netflix, which reported around 247.2 million global paid subscribers by the third quarter of 2023, is scheduled to release its fourth-quarter earnings. The company has seen significant growth, with operating profits skyrocketing over 50% in the past year and ended the 148-day Hollywood writers’ strike in October 2023.

Netflix shares closed 0.63% up at $486 on Monday. Stuber’s exit signals the conclusion of a noteworthy era for Netflix and the commencement of a new journey for him. Under Stuber’s leadership, Netflix’s feature business ventured into the blockbuster realm, attracting renowned filmmakers like Zack Snyder, the Russo brothers, Michael Bay, and Rawson Marshall Thurber.



Read more: Netflix’s Powerful Movie Studio Head Is Quitting To Start His Own Media Company