Netflix is cancelling multiple shows and movies after its recent subscriber and financial problems.
According to The Wrap , the streaming giant has pulled the plug on numerous in-development Netflix shows . The company's animation department has been hit hardest by the issues currently plaguing Netflix , which has suffered downturns in its market value and subscriber base since the turn of the year.
On Friday, April 21, we reported on Netflix's announcement that it had lost 200,000 subscribers since the beginning of 2022 . The streaming company's recent decision to pull out of Russia over the war in Ukraine cost it 700,000 viewers (per Reuters ), although that loss was offset by the acquisition of 500,000 new subscribers since the start of 2022.
Even so, Netflix's recent subscriber drop-off is its largest for a decade, and the streaming company estimates that it'll lose another two million paying customers before June 2022 – news which led to the company's market value plummeting by $50 billion (per BBC ). The company's 9.8% year-on-year growth, according to its Q1 2022 shareholders' letter , is Netflix's slowest quarterly growth since Q1 2021, too. Although, Netflix has noticed a gradual downturn in its financial expansion over the past 12 months.
As it reckons with its first loss of subscribers in over a decade, plus a huge slump in the valuation of its shares, Netflix has seemingly moved to proactively combat further financial instability. And that means cancelling multiple, in-development projects.
Per The Wrap's report, Netflix's Director of Creative Leadership and Development for Original Animation – Phil Rynda – was let go, alongside many of his staff, earlier this week.
According to Bloomberg , Netflix is also in the midst of restructuring its engineering department to create senior and junior roles for its employees. Given the internal upheaval, Bloomberg also claims that former and current Netflix employees believe that the streamer could lose some of the best creative influences on its staff – a talent drain that would surely impact development on its most popular shows and movies.
Not only that, but the streaming giant also cancelled many in-house animated projects, including an adaptation of Roald Dahl's The Twits. A highly-anticipated animated series based on Jeff Smith's beloved comic book series Bone, plus Lauren Faust's Toil and Trouble, were other productions unceremoniously dumped by the streamer. Since news of Bone's cancellation broke, Smith has taken to Twitter to voice (and illustrate) his thoughts on the comic series' latest adaptation setback.
But it isn't just keenly-awaited Netflix series that have been dispensed with. Netflix movies including Bright 2, a sequel to the Will Smith-starring fantasy flick, have also been dropped by the streaming company, according to What's on Netflix . Bright 2's cancellation is likely to have closer ties to 2022's Oscars slapgate incident, which saw Smith physically assault Chris Rock live on stage. We had previously reported that Netflix and Sony had pulled back on in-development Will Smith projects in the wake of the incident. But, according to Bloomberg reporter Lucas Shaw , Netflix claimed that Bright 2's cancellation had little to do with Smith's Oscars confrontation.
It's unclear how many Netflix TV series and films are similarly set for the chopping block. However, it seems that some of the streamer's biggest hits – Stranger Things , The Witcher , Arcane , and Squid Game to name just four – are all safe.
It appears that new, in-development movies and shows are at risk of falling by the wayside. But, as we've previously seen from Netflix, the streaming giant isn't averse to pulling the plug on fan-favorite productions if deemed necessary. We're looking at you, Archive 81 and The Dark Crystal: Age of Resistance.
Netflix is yet to respond to our request for comment, but we'll update this story if we hear back at some point.
Analysis: rough times ahead for Netflix
These are certainly trying times for Netflix. Sure, the streaming company is still the biggest service of its kind globally, but there's no denying that it's been rocked by recent subscriber losses and a sizeable hit to its market share.
Netflix is having to deal with increased competition from Disney Plus , Prime Video , and HBO Max . The streaming trio equally provide value for money and high-quality entertainment for viewers, so Netflix doesn't have complete control of the streaming market like it used to. Add in Apple TV Plus ' growing influence in the streaming industry – its recent pipping of Netflix to a Best Picture Oscar award win is sure to have rankled with Netflix executives – and Netflix's dominion of the streaming market is lessening over time.
The spiraling cost of living in some countries, such as the UK, has had an adverse effect on Netflix's subscriber base, too. As food, fuel, and energy prices increase worldwide, households are having to make tough choices about what they spend their money on. If it's a decision between feeding your family/heating your home or continuing to pay for Netflix, there's no contest: Netflix will lose out every single time.
And then there's the company's decision to crack down on password sharing between households. Netflix recently announced that it would no longer turn a blind eye to subscribers freely sharing their account information with family or friends who live elsewhere. To prevent this, Netflix has started testing a new "Add an Extra Member" paid feature, whereby account holders can pay an additional $2.99 per month to allow people living at another address to use their account. Based on reactions from multiple Reddit users in recent days and weeks , it's a move that's proving to be very unpopular .
It remains to be seen whether Netflix can recover from these setbacks. Yes, the streamer's 220 million-strong global subscriber base means that it should be fine for now. Netflix, too, will hope that these issues are only temporary, and that the next big Netflix hit may entice users to return in the future and start paying for the privilege of watching its content again.
There's no denying, however, that Netflix is currently having to navigate choppy waters. According to Macquarie tech analyst Tim Nollen (per Yahoo Finance ), Netflix's best days could even be behind it, with the streamer's share prices crashing by 40% in the wake of its Q1 2022 earnings report. Meanwhile, Mark Mahaney – Evercore ISI Senior Managing Director & Head of Internet Research – believes the company's belated decision to potentially introduce an ad-based subscription has additionally cost Netflix in the long run (per Yahoo Finance ).
With Netflix suffering a sizable financial hit amid its subscriber base issues, its next steps could be crucial in determining whether it can win back viewers' support or if things will only get worse from this point on.
Moon Knight episode 3 may have just teased the MCU hero's third identity
Spoilers follow for Moon Knight episode 3. You've been warned.
Moon Knight episode 3 has arrived on Disney Plus – and it seems that Steven Grant may have another personality, alongside Marc Spector, to contend with.
The Marvel Phase 4 TV show had already teased us with a number of Easter eggs in its opening two episodes – check out our episode 1 and episode 2 articles on those, if you haven't read them yet. But it seems that Moon Knight 's third instalment is hinting at an even bigger surprise to come, and it's one that's certainly piqued the interest of Marvel comic book fans.
We're about to dive into major spoiler territory for Moon Knight episode 3 . Don't read past the image below if you haven't watched it yet.
Still with us? If you are, you'll know that Steven and Marc don't appear to be responsible for the deaths of some of Arthur Harrow's followers early on in episode 3.
Around the 9:00 mark, we see that Marc has seemingly stabbed some of Harrow's followers to death after a frenetic chase through an Egyptian city. Knowing that he wasn't in control of Marc/Steven's body during this part of the fight, a slightly shocked Marc asks Steven why he killed Harrow's men.
"I swear that wasn't me!", Steven responds. "So who was it...?" Marc queries.
If it wasn't either of these personalities, who could it be? Due to Steven's Dissociative Identity Disorder (DID), there may be a third personality living inside of Steven's mind. And no, we're not referring to Khonshu.
Unsurprisingly, Marvel comics hold the answer: it seems that the persona responsible for killing Harrow's followers is another of the character's identities: Jake Lockley.
"Wait, who is Jake Lockley?" you may be thinking. Allow us to explain.
In the comics, Lockley is another of Marc Spector's personalities. He's a tough, New York-based cab driver who uses his day job as a front to conduct detective work and develop a network of informants for Marc/Moon Knight. This allows the caped vigilante to stay one step ahead of his foes, unearth new mysteries and secrets, and learn of other useful information in his fight against the criminal underworld. Think of Lockley as Moon Knight's sleuth persona (not unlike Batman), and you'll get the idea.
Like Steven Grant, Jake Lockley is one of multiple identities that Marc Spector utilizes to disguise himself from the authorities in the comics. But, like Steven, Khonshu, and Moon Knight, Lockley's presence inside Marc's mind only fractures his psyche further, making his "normal" life all the more complicated.
So how does Lockley fit into the MCU's incarnation of Moon Knight? Well, it's possible that Marvel Studios may have altered this particular identity of Steven's to make him a far more dangerous personality than his comic book counterpart.
In the comics, Steven is positioned as a millionaire, which is a far cry from the mild-mannered, British gift shop employee that we've been introduced to in Moon Knight's TV series. Lockley's "background" and abilities, then, may similarly have been altered for the TV adaptation. It may be that, in the MCU at least, he's a callous killer who has no qualms about murdering people who stand in his (or Khonshu's) way, which would be a huge change from his sleuthing persona in the comics.
Of course, there's no guarantee that this is Lockley's doing. From what audiences have learned about Marc so far, he isn't afraid to get his hands dirty – he's a mercenary after all, so he'll be used to beating up bad guys.
Clearly, though, Marc has some morals and seems to only take other peoples' lives when it's a matter of life or death. Plus, it's evident he's not in control of Steven's body when he stabs Harrow's followers to death. If it isn't him or Steven, it must be another of their alter-egos – and all signs, at this stage, point towards Lockley.
If Lockley is introduced in one of Moon Knight's final two episodes – we can confirm he doesn't show up in episode 4 – then it would make for an interesting battle between Moon Knight's triumvirate of personalities.
We'd have Steven, the more conscious and pacifist of the group. We'd have Marc, the merc/action hero who blurs the lines between right and wrong. And then we'd have Lockley, who could be the personification of Marc/Steven's dark side and the one who'll get things done for Khonshu when Marc refuses. It would certainly play into the theme of triangles and pyramids – you know, with their three sides – if Lockley comes out to play at some point.
Here's hoping, then, that we'll get a concrete answer to this particular mystery in Moon Knight's later episodes.
For more Marvel Studios-based content, check out our guide on how to watch the Marvel movies in order . Alternatively, read up on who we think is the best MCU villain of all-time , and how we've ranked every Marvel film to date .
Casio revamps the classic G-Shock MT-G line with new colors and a slimmer case
Casio has updated its classic G-Shock MT-G series with a line of redesigned watches that are slimmer and more colorful than ever. The new MTGB3000 series have a design that shaves 2mm off the previous thinnest MT-G.
The extra-slim watch module features a new version of Casio's Dual Core Guard system that protects its components within a carbon-reinforced resin case. The metal bezel, lugs, and case back mean it retains its traditional look.
There are three watches in the new line, all of which have black faces with colored highlights. Both the red-accented MTGB3000BD1A and the green MTGB3000BD12 have layered composite bands, while the gray accented MTGB3000B-1A has a soft urethane band more similar to those of typical sports watches. You can change the band by pinching the lug to detach it – another new feature for the MT-G line.
The MTGB3000B-1A will cost $950 (about £760 / AU$1,300), while the MTGB3000BD1A and MTGB3000BD12 will be $1,050 (about £840 / AU$1,500) each. They'll be available to buy from May, though Casio has yet to specify an exact release date.
Size matters
The new MT-G build is just 12.1mm thick, making it 2mm slimmer than previous MTGB1000 models. That might not sound like much, but on the wrist it can make a noticeable difference.
For example, the Garmin Instinct 2S we tested earlier this year is 2mm slimmer than 2018's Garmin Instinct, but feels noticeably sleeker in everyday wear and fits more neatly under a cuff.