The upheaval within Netflix’s management continued on Monday with the departure of the streamer’s head of films, Dan Lin.
Lin was appointed to the position in February 2024 and has been tasked with making fewer, better and bigger films.
But his efforts produced mixed results. During his tenure, Netflix launched high-profile releases including “The Rip” starring Matt Damon and Ben Affleck, and the Oscar-winning animated hit “KPop Demon Hunters,” as well as expensive duds such as “The Electric State.”
The latest high-profile shakeup at Netflix comes at a delicate time for the streamer, which has several highly anticipated theatrical releases in the coming months, including “The Further Misadventures of Cliff Booth,” directed by David Fincher, starring Brad Pitt, and “Narnia: The Magician’s Nephew,” directed by Greta Gerwig.
Last week, Netflix announced it was cutting 6% of its workforce and replacing chief content officer Bela Bajaria with Peter Rice, former chairman of Walt Disney Television.
After Bajaria was forced out, many people in the industry expected Lin to be next, according to sources who declined to be named because they were not authorized to comment. He was informed of his departure late last week, according to sources.
Rice will oversee the film’s crew until a new director of the film is announced.
Ted Sarandos, co-chief executive officer of Netflix, said he was grateful for what Lin did for Netflix films.
“I started working with Dan long before he joined us in 2024 and his strength as a producer has always been clear,” Sarandos said in a statement. “Once he joined Netflix, I saw first-hand how his dedication to making quality films, his rigor in negotiations and strategy, and his spirit of collaboration improved our film industry.”
On Monday, Lin thanked Sarandos, Bajaria and co-general manager Greg Peters in a statement for the opportunity.
“It has been a great privilege to lead this incredible team and work with extraordinary filmmakers and talents to bring their films to the world,” Lin said.
Analysts and investors have expressed concerns about Netflix’s growth. In the first half of 2026, hours watched on Netflix increased by only 2% compared to a year earlier, according to the streamer. Investors were hoping for more robust growth, given that the streamer increased its content budget by 11% to $20 billion.
Although Netflix is profitable, analysts say the company has not produced enough hits and are skeptical of its plans to increase its subscriber base.
Netflix stock is down about 40% from a year ago and closed Monday at $69.85 a share, down 1%.
Lin’s appointment was controversial in Hollywood after the departure of film chief Scott Stuber, who ramped up his film production and released big-budget films, including 2022’s “The Gray Man,” starring Ryan Gosling.
Lin had a difficult and complex assignment at Netflix, including a mandate to cut expenses and trim the roster to focus on higher-quality films, which angered some people in the entertainment industry, sources said. Netflix’s strategy of primarily releasing films on its platform instead of doing big theatrical showcases also deterred some talent who wanted to see their work on the big screen, according to some sources.
Under Lin’s tenure, Netflix was in the running for the Oscars every year, including “Emilia Perez” in 2025 and “Train Dreams” in 2026. The Spanish-language film “La Bola Negra” is also expected to generate Oscar buzz.
Still, Netflix’s recent films have underperformed, analysts say.
Brandon Katz, director of insights and content strategy at Greenlight Analytics, said Netflix’s five most-watched English-language scripted summer movie releases in their first eight weeks had the lowest average hours watched compared to the streamer’s top five summer releases in 2025, 2024 and 2023, citing Nielsen data.
“Netflix has reduced the volume of originals it produces over the past couple of years, particularly in the area of English-language original cinema under Dan Lin, while this represents a better return on investment, it will naturally lead to fewer lottery tickets you need to potentially hit the jackpot,” Katz said.
Analysts and investors are eagerly awaiting Netflix’s third-quarter results on Tuesday, as executives are expected to outline how they plan to move the company forward.
Analysts surveyed by FactSet expect Netflix’s third-quarter revenue to be about $12.87 billion, up 12% from last year, close to Netflix’s forecast. Analysts estimate that earnings per share for the quarter will be $0.82, up 39% from the same period last year.
“It’s unusual to see Netflix on its heels, but that’s what’s happening as the pace of its growth slows, putting the company in cost management mode,” Mike Proulx, vice president and research director at global research and consulting firm Forrester, said in a statement. “The streaming market that Netflix once defined is being redefined without Netflix at the center of gravity, at least for now.”
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