Nearly three years later, after pivot-to-streaming efforts, entertainment companies are contending with inflation, a possible recession and a constant chase for subscribers. AMC Networks, which has been on unsure financial ground, has been seeking up to $400 million in write-downs, rescinding orders for series like Demascus, 61st Street and Invitation to a Bonfire, all of which had either completed or were partially through production.Īt the beginning of the COVID-19 pandemic, studios like Paramount and Sony began offloading completed films to recoup or minimize financial losses, landing at streamers Netflix, Amazon and Apple TV+.
On the television front, multiple shows have been canceled while in various stages of production, or shows’ renewals have been rescinded before the new season gets underway. Like the Netflix features, this project is now being shopped elsewhere. More recently, a feature film based on the Comedy Central series Workaholics was scrapped by Paramount+ five weeks before filming was slated to begin. It is unclear exactly why Netflix decided to unload the two features, but a notable difference from the HBO Max titles is that The Inheritance and House/Wife are being shopped elsewhere. Discovery, which would be taking a tax write-down on the films’ budgets. At the time, it was reported that they were casualties of the new corporate strategy from parent company Warner Bros. In the summer, HBO Max made the announcement that the DC feature film Batgirl and the animated movie Scoob!: Holiday Haunt would be shelved after both had completed production.
'Virgin River' Scores Early Season 6 Renewal at Netflix
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