Netflix‘s film chief Scott Stuber is leaving the streamer to start a new production company.
The exec will stay at Netflix through the middle of March, after which chief content officer Bela Bajaria will find his replacement, according to those familiar with the situation. Stuber has secured financing for this new endeavor, which will focus on making TV shows and movies, according to Bloomberg, which first reported the news of Stuber’s departure.
Stuber’s exit from the company has been rumored for some time now. The well-liked film executive had been talking to potential financiers about a solo venture, according to a knowledgeable source.
“Seven years ago, Reed and Ted offered me the amazing opportunity to join Netflix and create a new home for original movies,” Stuber said in a statement. “I am proud of what we accomplished and am so grateful to all the filmmakers and talent who trusted us to help tell their stories. Thank you to Ted, Reed, Greg, Bela and the entire team. I look forward to continuing to work with them in the future.”
Stuber joined Netflix in 2017 and oversaw the acquisition, development and production of movies like “Red Notice,” “Bird Box” and “Glass Onion: A Knives Out Mystery.” He also lured top directorial talent such as Alfonso Cuarón, Spike Lee, Greta Gerwig, Zack Snyder, Jane Campion and Martin Scorsese.
Under his tenure, Netflix has dramatically increased its film output, making it one of the most prolific Hollywood studios. His early years were marked by the strategy to release a new movie every week, which came at a high cost and mixed returns.
“We were growing a new studio. We’d only been doing this for a few years, and we were up against 100-year-old companies,” Stuber told Variety in 2023. “So you have to ask yourself, ‘What is your business model?’ And for a while it was just making sure that we had enough. We needed volume.”
For the past two years, however, Stuber expressed an interest in focusing on quality over quantity. Now, he says, “we’re not trying to hit a set number of film releases. It’s about ‘Let’s make what we believe in.’ And let’s actually put forth a slate that we can stand behind.”
Prior to Netflix, Stuber founded and ran the company Bluegrass Films, which backed comedies and action-adventures like “Ted” and “Central Intelligence.” He also served as vice chairman of worldwide production at Universal, where he worked on “A Beautiful Mind,” “Seabiscuit” and “Meet the Parents,” as well as the “Bourne” and “Fast and Furious” franchises.
Netflix’s co-CEO Ted Sarandos said that Stuber “helped lead a new paradigm of how movies are made, distributed and watched.”
“He attracted unbelievable creative talent to Netflix, making us a premiere film studio,” Sarandos said in a statement. “Under his leadership, we’ve become the most nominated studio for three years in a row at the Academy Awards. Scott, thank you for your leadership and friendship and I can’t wait to see what’s next.”
Bajaria called Stuber “a trusted partner and friend.”
“What Scott has accomplished in seven years is nothing short of amazing,” she said. “He created a world-class film studio, not only by working with established filmmakers, but also finding and supporting first time creators. I hope to find new ways to continue to work together.”
From Variety US