Netflix’s Culture: Binge or Cringe?

In April 2022, streaming entertainment company Netflix lost customers for the first time in more than 10 years. Once a first mover in the streaming landscape, Netflix was facing competition from Amazon Prime Video, Disney+, HBO Max, and others. A key component of Netflix’s prior success was its unique “freedom and responsibility” culture, in which the company eschewed hierarchical decision-making, performance reviews, and vacation and expense policies, and employees were expected to maintain high performance or else get cut from the “dream team.” While some employees reported appreciation for Netflix’s culture, others described it as “cutthroat.” Given the company’s performance in spring 2022, was Netflix’s “no rules rules” culture still an asset or was it now a liability?