Netflix Chairman Scott Stuber will be leaving the streaming giant in March to establish his own media company. Rumors suggest a divergence in philosophy between Stuber and Netflix's focus on streaming-exclusive premium content. With other platforms embracing theatrical releases for big-budget films. While Netflix has acquired theaters in select cities, its primary strategy remains global streaming.

Stuber, a former Universal executive, played a pivotal role in transforming Netflix's film slate. Netflix has been his home since 2017. But his departure comes after rumors circulated about differences in approach. For now, he will assist in the transition. But Chief Content Officer Bela Bajaria will oversee operations until a permanent replacement is found.

“What Scott has accomplished in seven years is nothing short of amazing. He created a world-class film studio, not only by working with established filmmakers, but also finding and supporting first-time creators.” Said Bajaria.

During his tenure, Netflix can thank Scott Stuber for its collaboration with top filmmakers. Including Alfonso Cuarón, Spike Lee, Martin Scorsese, and others. Netflix became the most nominated studio at the Academy Awards for three consecutive years under his leadership. Although it has yet to secure a Best Picture win.

From Netflix, Stuber's new venture is expected to follow a traditional film release model. Since joining Netflix, he oversaw the production of popular films like ‘Red Notice, ‘Bird Box,' and critically acclaimed projects. Such as ‘The Power of the Dog; and ‘The Irishman.' Stuber's departure marks a significant shift for Netflix as it navigates the evolving landscape of film distribution.