In case you missed it, Netflix recently canceled a few of our favorite shows (*ahem* Sense8 and The Get Down), and we’re definitely not happy about it. But it seems a few network execs are thrilled about the Netflix cancelations. After news of the controversial cancelations, a bunch of network presidents and streaming execs gathered on Friday at the ATX Television Festival in Austin to discuss the changing TV landscape.
Since Netflix began producing original content, the streaming giant quickly dominated, and there have never been more original shows on Netflix than at this very moment. Which means fewer and fewer people are tuning in to watch regular cable network channels. Because Netflix and Chill, duh. But recently, it seems Netflix has been forced to cancel some of its original shows.
And when the topic of Netflix’s possible rough patch came up at the TV festival, the network higher-ups held nothing back.
According to Vulture, Nick Grad, FX’s president of original programming, said:
Craig Erwich, of Hulu, echoed the sentiment, noting that because Netflix is “capitalist,” it’s merely reached the level other networks were already operating at in terms of the bottom line: “If canceling shows is the phase where they are,” he explained, “it makes sense.”
The reason for the cancelation of Sense8 and The Get Down was also revealed recently — it cost Netflix around $10 million to make one episode of each of those shows, which is a lot. Without official viewing numbers for the shows, it’s impossible to know for sure, but we can only assume the shows didn’t pull in enough viewership for Netflix executives to feel comfortable renewing them.
But even during this “rough patch,” Netflix isn’t worried at all. The company’s CEO, Reed Hastings, went so far as to say there should be more cancelations, with the hopes of setting a higher bar for success.
While we’re still mourning the loss of our faves, we’re looking forward to the new binge-worthy goodness Netflix will come up with next.