Netflix backs off standup comedy specials

Netflix is cutting back on standup specials.

• At this point last year, Netflix had released about 50 standup specials — compared with about 30 so far this year, according to a Bloomberg analysis.
• Netflix acknowledges that it refining its strategy when it comes to standup specials.
• While Netflix still plans on featuring specials as part of its streaming offerings, it is adding sketch comedy and material from less known comedians as well.
• Netflix has used standup comedy specials as a fast way to build its original library of content.
• Previously, the streamer had released specials from big names including Jerry Seinfeld, Ellen DeGeneres and Dave Chappelle.
• Meanwhile, Netflix is investing billions in original content even with concern about its growth.