Cinema chief Dan Lin is out at Netflix, the latest executive to be ousted following the streamer’s biggest layoff since 2022.
Lin was hired as president of motion pictures in 2024 with a mandate to bring greater cost discipline and variety to Netflix’s films, which had focused on big-budget production under his predecessor, Scott Stuber. Lin cut actors’ big starting salaries, reduced staff and reorganized his department. He oversaw a slate that included the Academy Award-winning “KPop Demon Hunters,” “Happy Gilmore 2” and “Frankenstein.”
Lin’s exit is the latest big shock at Netflix. Also absent in recent days was chief content officer Bela Bajaria, who was replaced by Hollywood veteran Peter Rice, a former Disney and Fox executive.
Rice will oversee the film until a new director is announced, Netflix said in a statement confirming Lin’s departure.
Last week, Netflix laid off 1,000 employees, or about 6% of the global workforce. This is the streamer’s biggest removal since 2022, when the company lost subscribers for the first time in over a decade.
The streaming giant has been held back by slowing engagement growth and a stock price that has fallen more than 40% over the past year. The streamer is grappling with the rise of free, ad-supported streaming led by YouTube and the popularity of social video. In recent months, Netflix has turned to podcasters and creators to expand its library.
Netflix is expected to report its third-quarter results Tuesday after the bell.
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