Netflix’s marketing division went on a quick diet and is now 15 employees shortly after the streaming giant laid off over a dozen personnel.
According to a source close to Netflix, the move was attributed to Netflix’s plan on a long-term structural adjustment in their marketing department ever since Jackie Lee-Joe, Netflix’s new chief marketing officer came into the scene.
After being named the new marketing chief, Lee-Joe moved to Los Angeles last September in the midst of a vital period in the world of streaming alongside the streaming giant’s lavish goals of vast international growth for the company due to the then-upcoming streaming wars that is now in full swing.
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The streaming wars are now in full swing after Disney+ made a huge splash after debuting last December and had taken some of Netflix’s subscribers. Besides the Mouse House’s streaming medium, there is still Apple TV+, HBO Max and Peacock to contend with.
According to Deadline, Netflix will still do its title marketing ever after the said lay-offs. This news came after their last quarter earnings report last week that had exceeded past estimates having revenue of almost $5 billion and earnings per share of $1.50. Netflix has added almost 9 million global subscribers during their fourth quarter to a grand total of 167 million paid subscribers. The number was a huge surprise that exceeded their expectations but is still a bit lacking in their U.S. market.
Disney+ had a phenomenal debut getting over 10 million new subscribers after their launch last November (with the help of Baby Yoda), Netflix has been steadfast in their international growth.
“Our low membership growth in [North America] is probably due to our recent price changes and to U.S. competitive launches,” according to a Netflix spokesperson.
Netflix also noted that even though they have been in the streaming space for far longer than most of their competitors, they will continue working on making sure that their subscribers satisfied and happy in the midst of the streaming wars.