Netflix’s ‘Electric State’ Is No Hit, but the Streamer Doesn’t Mind

Netflix invested a hefty sum of over $275 million in producing “The Electric State,” a sci-fi action adventure film featuring Millie Bobby Brown, Chris Pratt, and a plethora of sentient robots. Despite opening on the streaming service on March 14, had it premiered in theaters, the film would likely have been deemed a major disappointment.

Reviews for the movie have been less than favorable. While it did claim the top spot on Netflix’s weekly chart of most-watched movies, it garnered significantly fewer views (25.2 million) compared to other high-budget productions like “The Gray Man” (41.2 million), helmed by the same directors, the Russo brothers.

Despite the underwhelming performance, there was no panic within Netflix. No heads rolled in the marketing or production departments.

The film serves as a testament to Netflix’s unique approach compared to traditional studios and its ability to spend lavishly on a project that may not meet expectations without causing a stir on Wall Street.

At Netflix, individual content pieces do not significantly impact the overall performance. Despite titles like “Squid Game 2” amassing 87 million views, they only represent a small fraction of total viewership. The company’s annual $18 billion content budget aims to cater to diverse global audiences with varying preferences.

Richard Greenfield, a media analyst, highlighted the insignificance of Netflix’s occasional missteps in the grand scheme of its vast content library, citing the success of lesser-known titles like “Adolescence.”

Netflix’s content strategy focuses on a diverse portfolio, as emphasized by its Chief Content Officer Bela Bajaria, who prioritizes quality across a wide range of genres and styles.

Netflix’s acquisition of “The Electric State” in 2022 marked a departure from traditional studio practices. The film’s ballooning costs, attributed to extensive special effects and star/director bonuses, underscored Netflix’s willingness to invest in ambitious projects.

While the company’s new film chief, Dan Lin, aims to streamline costs, Netflix continues to pursue high-profile ventures like Greta Gerwig’s “Narnia” and the Russo brothers’ upcoming projects.

Amidst evolving audience preferences and industry shifts, Netflix’s strategy of embracing both original content and established franchises reflects the changing landscape of entertainment consumption.

Film producer and NYU professor Peter Newman noted Netflix’s data-driven approach to content creation, which may prioritize analytics over traditional artistic sensibilities. This approach could explain the disparity between critical reception and audience response to “The Electric State.”

Newman suggested that Netflix’s strategy may cater to a more mainstream audience preference, potentially favoring mass appeal over niche artistic endeavors.