Netflix
Scott Stuber is leaving Netflix. He has been CEO of Netflix Film since 2017 and will leave the company in March to start his own media company.
This has been in the works for some time, as rumors have been doing the rounds that he has a different philosophy than the Netflix frontrunners, whose main focus has always been on producing premium films that can be consumed via streaming. Other streamers have become a premiere theatrical platform for many of their big-budget films, as Apple has done by tapping traditional distributors to release films like “Killers of the Flower Moon” and “Napoleon” worldwide. While Netflix has acquired some posh theaters in suitable cities like New York and Los Angeles, its business plan is mostly global streaming without the huge P&A expenses required for films to generate big box office revenue.
Stuber will stay on to support the transition, and then Chief Content Officer Bela Bajaria will oversee things until a permanent replacement is secured.
Stuber grew up at Universal and as a producer and was introduced to filmmaking with a traditional waterfall platform that begins with theatrical release. He will start a company that will probably follow this format and have money.
Since joining Netflix, he has transformed the company's film slate – overseeing the acquisition, development or production of the streamer's biggest films: Red Notice (which remains the most popular Netflix film of all time); bird feeders; Hurry; Glass Onion: A Knives Out Mystery; Oscar and BAFTA winner All Nothing New in the West; Oscar winner Guillermo del Toro’s “Pinocchio”; The Adam Project; The Gray Man; Oscar and BAFTA-winning film “The Power of the Dog”; Don't look up; Martin Scorsese’s “The Irishman”; Oscar® winner Marriage Story; and Oscar winner ROMA.
Stuber's strong ties to the creative community and his decades of experience producing commercially successful and acclaimed feature films have enabled Netflix to do business with top filmmakers from Alfonso Cuarón to Spike Lee, Greta Gerwig, Zack Snyder, Susanne Bier, Rian Johnson and Jane Campion Martin Scorsese.
Bets on star-driven films have increased with the commitment of other streamers, with films like “Red Notice” and “Gray Man” hitting the high mark of $200 million or more. Netflix inked an unprecedented deal worth more than $400 million with director Rian Johnson, partner Ram Bergman and Daniel Craig to host the crime series “Knives Out.” They got two films. The first, “Glass Onion,” was a resounding success from the moment it premiered in Toronto. But it didn't impact the Oscar race that much, and many felt that was due to Netflix's monogamy towards its streaming service.
Under Scott's leadership, Netflix has been the most nominated studio at the Academy Awards for three consecutive years (2020, 2021, 2022). It's been knocked for the Best Picture award but hasn't won yet. Apple was the first streamer to do this with CODA, but Netflix is in the race with the Bradley Cooper-directed Maestro.
Stuber came to Netflix from Bluegrass Films and produced Ted, Central Intelligence and Safe House, among others. Previously, he was vice chairman of worldwide production at Universal Studios and was responsible for many of the critically acclaimed, award-winning and commercially successful films, including “A Beautiful Mind,” “Seabiscuit,” “Cinderella Man,” “Jarhead,” “8 Mile” and “Meet”. “The Parents” and its follow-up films, as well as the “Bourne” and “Fast and the Furious” franchises. More than 20 of the films he has supervised have grossed over $100 million at the US box office.
“Seven years ago, Reed and Ted offered me a great opportunity to join Netflix and create a new home for original films,” Stuber said in a statement. “I am proud of what we have achieved and am very grateful to all the filmmakers and talent who have trusted us to tell their stories. Thank you to Ted, Reed, Greg, Bela and the entire team and I look forward to working with them in the future.”
said Ted Sarandos, co-CEO of Netflix: “Scott helped drive the new paradigm for how films are made, distributed and viewed. He brought incredible creative talent to Netflix and made us a premier film studio. Under his leadership, we have become the most nominated studio at the Academy Awards three years in a row – including eight nominations for Best Picture, two Oscars for Best International Feature, two Oscars for Best Documentary, and our first Oscar for Best Animated Film . Scott, thank you for your guidance and friendship and I can’t wait to see what comes next.”
Added Bela Bajaria, Netflix Chief Content Officer: “What Scott has achieved in seven years is nothing short of amazing. He created a world-class film studio by not only working with established filmmakers, but also finding and supporting new creators. He has been such a trusted partner and friend to me and many others, and I hope we can find new ways to continue working together.”