Expansion into gaming, end of DVDs, etc. (2021–2025)
In March 2021, Netflix earned the most Academy Award nominations of any studio, with 36. Netflix won seven Academy Awards, which was the most by any studio. Later that year, Netflix also won more Emmys than any other network or studio with 44 wins, tying the record for most Emmys won in a single year set by CBS in 1974. On April 8, 2021, Sony Pictures Entertainment announced an agreement for Netflix to hold the U.S. pay television window rights to its releases beginning in 2022, replacing Starz and expanding upon an existing agreement with Sony Pictures Animation. The agreement also includes a first-look deal for any future direct-to-streaming films being produced by Sony Pictures, with Netflix required to commit to a minimum number of them.[241][242][243] On April 27, 2021, Netflix announced that it was opening its first Canadian headquarters in Toronto.[244] The company also announced that it would open an office in Sweden as well as Rome and Istanbul to increase its original content in those regions.[245]
In early-June, Netflix hosted a first-ever week-long virtual event called "Geeked Week", where it shared exclusive news, new trailers, cast appearances and more about upcoming genre titles like The Witcher, The Cuphead Show!, and The Sandman.[246]
In July 2021, Netflix hired Mike Verdu, a former executive from Electronic Arts and Facebook, as vice president of game development, along with plans to add video games by 2022.[247] Netflix announced plans to release mobile games which would be included in subscribers' plans to the service.[248] Trial offerings were first launched for Netflix users in Poland in August 2021, offering premium mobile games based on Stranger Things including Stranger Things 3: The Game, for free to subscribers through the Netflix mobile app.[249]
Also in September, the company announced The Queen's Ball: A Bridgerton Experience, launching in 2022 in Los Angeles, Chicago, Montreal, and Washington, D.C.[250]
On September 20, 2021, Netflix signed a long-term lease with Aviva Investors to operate and expand the Longcross Studios in Surrey, UK.[251] On September 21, 2021, Netflix announced that it would acquire the Roald Dahl Story Company, which manages the rights to Roald Dahl's stories and characters, for an undisclosed price and would operate it as an independent company.[252][253][254][255] The company acquired Night School Studio, an independent video game developer, on September 28, 2021.[256] Netflix officially launched mobile games on November 2, 2021, for Android users around the world. Through the app, subscribers had free access to five games, including two previously made
On October 13, 2021, Netflix announced the launch of the Netflix Book Club, where readers will hear about new books, films, and series adaptations and have exclusive access to each book's adaptation process. Netflix will partner with Starbucks to bring the book club to life via a social series called But Have You Read the Book?. Uzo Aduba will serve as the inaugural host of the series and announce monthly book selections set to be adapted by the streamer. Aduba will also speak with the cast, creators, and authors about the book adaptation process over a cup of coffee at Starbucks.[260][261] Through October 2021, Netflix commonly reported viewership for its programming based on the number of viewers or households that watched a show in a given period (such as the first 28 days from its premiere) for at least two minutes. On the announcement of its quarterly earnings in October 2021, the company stated that it would switch its viewership metrics to measuring the number of hours that a show was watched, including rewatches, which the company said was closer to the measurements used in linear broadcast television, and thus "our members and the industry can better measure success in the streaming world."[262] On November 16, 2021, Netflix announced the launch of "Top10 on Netflix.com", a new website with weekly global and country lists of the most popular titles on their service based on their new viewership metrics.[263]
On November 22, 2021, Netflix announced that it would acquire Scanline VFX, the visual effects and animation company behind Cowboy Bebop and Stranger Things.[264] On the same day, Roberto Patino signed a deal with Netflix and established his own production banner, Analog Inc., in partnership with the company. Patino's first project under the deal is a series adaptation of Image Comics' Nocterra.[265] On December 6, 2021, Netflix and Stage 32 announced that they have teamed up the workshops at the Creating Content for the Global Marketplace program.[266] On December 7, 2021, Netflix partnered with IllumiNative, a woman-led non-profit organization, for the Indigenous Producers Training Program.[267][268]
On December 9, 2021, Netflix announced the launch of "Tudum", an official companion website that offers news, exclusive interviews, and behind-the-scenes videos for its original television shows and films.[269] On December 13, 2021, Netflix signed a multi-year overall deal with Kalinda Vazquez.[270] On December 16, 2021, Netflix signed a multi-year creative partnership with Spike Lee and his production company 40 Acres and a Mule Filmworks to develop film and television projects.[271] In December 2021, former Netflix engineer Sung Mo Jun was sentenced to 2 years in prison for an insider trading scheme where he leaked subscriber numbers in advance of official releases.[272][273]
In compliance with the EU Audiovisual Media Services Directive and its implementation in France, Netflix reached commitments with French broadcasting authorities and film guilds, as required by law, to invest a specific amount of its annual revenue into original French films and series. These films must be theatrically released and would not be allowed to be carried on Netflix until 15 months after their release.[274][275]
The company announced plans to acquire Next Games in March 2022 for €65 million as part of Netflix's expansions into gaming. Next Games had developed the mobile title Stranger Things: Puzzle Tales as well as two The Walking Dead mobile games.[276] Later in the month, Netflix also acquired the Texas-based mobile game developer, Boss Fight Entertainment, for an undisclosed sum.[277]
Following the 2022 Russian invasion of Ukraine, Netflix suspended its operations and future projects in Russia.[278][279] It also announced that it would not comply with a proposed directive by Roskomnadzor requiring all internet streaming services with more than 100,000 subscribers to integrate the major free-to-air channels (which are primarily state-owned).[280] A month later, ex-Russian subscribers filed a class action lawsuit against Netflix.[281][282]
At the end of Q1 2022, Netflix announced a decline in subscribers, with almost 200,000 fewer viewers than at the end of the previous year.[283] Netflix stated that 100 million households globally were sharing passwords to their account with others, and that Canada and the United States accounted for 30 million of them. Following these announcements, Netflix's stock price fell by 35 percent.[284][285][286][287] By June 2022, Netflix had laid off 450 full-time and contract employees as part of the company's plan to trim costs amid lower than expected subscriber growth. The layoffs represented approximately 2 percent of the workforce and spread across the company globally.[288][289][290]
On April 28, 2022, the company launched its inaugural Netflix Is a Joke comedy festival, featuring more than 250 shows over 12 nights at 30-plus locations across Los Angeles, including the first-ever stand-up show at Dodger Stadium.[292][293]
On July 19, 2022, Netflix announced plans to acquire Australian animation studio Animal Logic.[294][295]
On September 5, 2022, Netflix opened an office in Warsaw, Poland responsible for the service's operations in 28 markets in Central and Eastern Europe.[296]
On October 4, 2022, Netflix have signed a creative partnership with Andrea Berloff and John Gatins.[297]
On October 11, 2022, Netflix signed up to the Broadcasters' Audience Research Board for external measurement of viewership in the UK.[298]
On October 12, 2022, Netflix signed to build a production complex at Fort Monmouth in Eatontown, New Jersey.[299]
On October 18, 2022, Netflix began exploring a cloud gaming offering and opened a new gaming studio in Southern California.[300]
On January 10, 2023, Netflix announced plans to open an engineering hub in its Warsaw office. The hub is to provide Netflix's creative partners with software solutions in the production of films and series.[301]
On April 18, 2023, Netflix announced that it would discontinue their DVD-by-mail service on September 29.[302]
Netflix reworked its viewership metrics again in June 2023. Viewership of shows were measured during the first 91 days of availability, instead of the first 28 days, and now are based on the total viewership hours divided by the total hours of the show itself. This provided more equal considerations for shorter shows and movies compared to longer ones.[303]
In August 2023, the company announced Netflix Stories, a collection of interactive narrative games from Netflix series and films such as Love is Blind, Money Heist and Virgin River.[304]
Netflix discontinued its DVD mailing service as planned on September 29, 2023, in favor of its streaming business. Users of the service were able to keep the DVDs that they had received. Over its lifetime the service had sent out over 5 billion shipments.[302][305]
In October 2023, Eunice Kim was promoted to Chief Product Officer and Elizabeth Stone was promoted to Chief Technology Officer.[306] That same month, Netflix and Skydance Media entered a multi-year pact to develop and produce animated films, ending Skydance's partnership with Apple. First one under the deal was Spellbound, which premiered in 2024.[307] Netflix would also take over distribution of preexisting Skydance Animation titles, including Ray Gunn and Swapped.[308]
In April 2024, Netflix announced that starting in 2025, it would stop regularly reporting subscriber numbers.[309]
In November 2024, Netflix offices in Paris and Amsterdam have been raided by the French and Dutch authorities as part of an investigation into tax fraud. The company is also under investigation for tax filings for 2019, 2020 and 2021.[310][311]
The service began venturing into live sports broadcasting with the Jake Paul vs. Mike Tyson boxing match in November 2024, followed by a pair of National Football League games on Christmas Day.[312] On January 6, 2025, Netflix would become the new home for the WWE Raw franchise which had spent more than 30 years on cable.[313]
