Movies

Netflix’s $200M Flop: ‘The Electric State’ Dies, No MCU for Streaming Giant

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It appears that “The Electric State” didn’t achieve significant success among viewers. While this might not come as a surprise to many, understanding the audience response can be challenging. However, based on the viewership data, it seems that the potential series may have already run its course, despite an extensive promotional campaign involving two distinct podcasts, apps, and robot interviews during press events; making it Netflix’s costliest original production to date. This outcome was somewhat anticipated by those who have been tracking Netflix’s long-standing ambition for a successful franchise, which has consistently failed to rival the likes of the MCU, Harry Potter, or Star Wars.

The burden was heavy on the Russo Brothers, as Netflix invested significantly to bring back the magic they had with Marvel. However, even with this substantial funding, Netflix has yet to solidify its position as a genuine Hollywood film studio. In an interview from 2021, Scott Stuber, former head of Netflix Film, acknowledged their struggle with films that felt artificial and lacked resonance with viewers. Indeed, it seems this issue persists. One might wonder why the most innovative media brand in recent years has trouble creating enduring, cherished franchises. It’s not due to a scarcity of funds, famous talent, or motivation.

What’s the Current State of the Netflix Movie Line-Up?

Despite the fact that the movie “The Electric State” was not successful, the Russo Brothers are hoping to create more sequels. However, it’s questionable whether those with the financial control would be willing to take the risk and give them another chance, given the current difficulties Netflix is facing. Previously, in 2024, Zack Snyder expressed his partnership with Netflix as ending on a sour note, as both “Rebel Moon” and “Army of the Dead” franchises failed to thrive.

In a surprising turn of events, the 2022 film “Bright” might have been the highlight of a prolonged movie franchise, but it seems that the series has lost its spark, along with Will Smith’s popularity and star power, according to an update from Esquire magazine. The possibility of a sequel for “The Gray Man” remains uncertain, as the Russo Brothers have only vaguely committed to the project.

Interestingly, following a critically panned live-action adaptation of “Death Note” several years ago, Netflix has decided to revisit the concept. This move could suggest desperation rather than a genuine dedication to anime, with The Duffer Brothers now in charge. It’s also worth noting that Netflix is reportedly planning two sequels to 2022’s “Red Notice,” as suggested by the producer in interviews with Collider.

Netflix Isn’t as Out of Touch as They Would Seem

In contrast to an abundance of talented directors and actors, Netflix struggles to deliver consistent high-quality content. However, this issue isn’t overlooked by those in charge of Netflix films. In a telling interview with Variety, Scott Stuber, now at Amazon MGM Studios and responsible for Netflix’s film division, acknowledged their stumbles in original movie production while dismissing the possibility of a sequel to 6 Underground, stating:

As a devoted admirer, I firmly believe that we need to maintain a consistent focus on making our films more culturally resonant and timely. The public is eagerly anticipating these movies, and my hope is that they not only enjoy them but also discuss them passionately with their friends and colleagues. In those casual conversations, I dream of hearing phrases like “Have you seen the latest movie ‘Old Guard’?” We’ve managed to achieve this in some instances, yet we must strive for a more consistent success in this endeavor.

In Netflix’s viewpoint, creating a long-lasting cinematic universe in the 2020s has been as challenging as Sisyphus pushing his boulder uphill, given that established intellectual properties from major studios have been losing substantial amounts of money, totaling hundreds of millions. This period, indeed, seems to be the most difficult time to take risks in the film industry. Their high-profile prestige picture, “The Irishman,” likely failed to recover its significant budget, indicating that Netflix might refrain from investing in more costly, artistic films in the future.

Nevertheless, some critics have pointedly criticized Netflix for their approach of producing high-budget spy and sci-fi movies, often using Jennifer Lopez’s film Atlas as an illustration of a movie that fits a specific mold. It seems that Netflix only finds success with sequels like Beverly Hills Cop: Axel F and Outlaw King, which are based on known narratives and established characters, rather than relying on genre tropes or celebrity status.

Streamers Running Out of Steam As the Culture Changes

It’s plausible to consider the possibility that Netflix is seen as just a content provider rather than a true studio because the traditional cinematic universe model might be outdated, and Netflix may have missed its chance to be part of this shift. The failure of Argylle, which attempted spin-offs and prequels, suggests that even established players can’t guarantee success in this format. Perhaps, we’ve been so accustomed to the dominance of blockbusters that we fail to recognize the changing landscape of the entertainment industry.

It’s rumored that a significant change has occurred at Netflix last year. As reported by The Hollywood Reporter, the new leader, Dan Lin, is moving towards smaller, character-driven dramas. He’s been analyzing viewing statistics such as minutes watched, audience preferences, likes, and dislikes to make data-driven decisions for their movie lineup. In simpler terms, this means we might see fewer grandiose sci-fi productions in the future. The era of pushing franchises may be coming to an end. Additionally, don’t expect high-budget period pieces with heavy special effects that aim to smooth out Robert De Niro’s wrinkles. Instead, we could be going back to the style of mid-scale TV movies and miniseries similar to those produced in the ’80s and ’90s.

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2025-04-24 06:02

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