Netflix’s head of films Scott Stuber will leave the streaming services pioneer in March to start his own media production company, selling shows back to his old company.
Stuber, who earned a salary between $16 million and $18 million per year, joined Netflix in 2017 and was named chairman of Netflix Film in January 2023.
During his time in the role, he oversaw the development of popular titles including ‘Glass Onion: A Knives Out Mystery’, ‘All Quiet on the Western Front’ and ‘Red Notice’.
Stuber appears to be leaving with the blessings of Netflix bosses who released gushing statements.
“He attracted incredible creative talent to Netflix, helping us become a premier film studio,” CEO Ted Sarandos said Monday.
“Under his leadership, we have become the most nominated studio at the Academy Awards three years in a row (2020, 2021, 2022). Scott, thank you for your leadership and friendship and I can’t wait to see what’s next.”
Netflix’s film chief Scott Stuber, who earned a salary between $16 million and $18 million a year, is leaving the streamer in mid-March to start his own production company.
Stuber oversaw the development of popular titles including Glass Onion: A Knives Out Mystery
Red Notice starring Dwayne Johnson (left) and Ryan Reynolds was another film Stuber oversaw
Stuber’s new venture will also see him produce projects for Netflix Reports Bloomberg. The new venture will focus on making TV shows and films.
There have been rumors about his departure from Netflix for a while now Varietywhere he talked to potential financiers about a venture that would see him go solo.
Stuber gave his own effusive statement when announcing his departure.
“Seven years ago, Reed (Hastings) and Ted (Sarandos) offered me the exciting opportunity to join Netflix and create a new home for original films,” Stuber said.
“I’m proud of what we’ve accomplished and 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.”
In addition to producing films, Stuber was also able to attract top directors, including Alfonso Cuarón, Spike Lee, Greta Gerwig, Zack Snyder, Jane Campion and Martin Scorsese.
At one point, Stuber had big plans to release a new movie on the streamer every week, but costs were high and returns mixed with quantity over quality.
‘We were building a new studio. We had only been doing this for a few years and we were competing against companies that were a hundred years old. So you have to ask yourself, “What is your business model?” And for a while it just made sure we had enough. We needed volume,” Stuber said Variety in 2023.
Stuber leaves with the blessing of CEO Ted Sarandos. “He attracted incredible creative talent to Netflix, helping us become a premier film studio,” Sarandos said in a statement
The strategy has since changed with the aim of making between 25 and 30 films per year.
‘We’re not trying to hit a set number of film releases. It’s about, “Let’s create what we believe in.” And let’s actually put forward a slate that we can get behind,” Stuber said.
Before joining Netflix, Stuber founded and led the Bluegrass Films company.
The company made comedies and action adventures, including “Ted” and “Central Intelligence.”
He also worked at Universal, producing “A Beautiful Mind,” “Seabiscuit,” “Meet the Parents” and the “Bourne” and “Fast and Furious” franchises in his role as vice president of worldwide production.
Netflix is expected to report fourth-quarter results after the closing bell on Tuesday.