Netflix boss Ted Sarandos has insisted that the streaming service has "never" cancelled a "successful" show.
Talking to Bloomberg after Netflix cancelled a number of popular shows including 1899 and The Bastard Son & Devil Himself, Sarandos backed the decisions to walk away from these shows.
He said: "We have never canceled a successful show. A lot of these shows were well-intended but talk to a very small audience on a very big budget."
The CEO added: "The key to it is you have to be able to talk to a small audience on a small budget, and a large audience on a large budget. If you do that well, you can do that forever."
As there is no external system for tracking how much time is spent watching things on Netflix, it makes it difficult to calculate what "success" means for Netflix or any other streaming service compared to a normal TV channel.
Netflix has recently been hit by fan backlash for cancelling shows such as Warrior Nun, 1899 and The Midnight Club. In total Netflix cancelled 20 TV shows in 2022, leading to claims that the streamer is making too much content.
Among the other casualties were a lot of teen-focussed shows including The Bastard Son & Devil Himself, First Kill and The Baby-Sitters Club.
The company also had a number of hits in 2022 with the latest season of Stranger Things, the mini-series Dahmer and the launch of Wednesday, which according to Netflix, is their most successful show yet.
Watch below: Netflix founder Reed Hastings steps down as co-CEO.