Photo: Lionel Bonaventure/AFP/Getty Images

Netflix chief content officer Ted Sarandos told several senior executives last month that spending on film and TV projects, particularly big budget movies, needed to be more cost-effective, The Information reports.

Why it matters: Netflix's heavy spending has set the bar for all of the other streamers looking to challenge it. But Sarandos reportedly said that big-budget projects need to bring in lots of viewers, not just drive buzz.

The big picture: In the past, Netflix used "a ratio of their cost to a measure of viewership that gives more weight to new subscribers and those viewed at risk of canceling," The Information's Jessica Toonkel, Tom Dotan and Beejoli Shah write.

Be smart: Matthew Ball, former head of strategy at Amazon Studios, argues that this is not a sign of trouble for Netflix, but rather a sign of maturation.

  • He says Netflix for a long time needed to focus on creating enough scale to add as many users as possible. Now that it's achieved that, Ball argues it can be pickier.

What's next: There's been a lot of talk about whether companies that make content and own streaming services would eventually pull their titles in favor of their own platforms.

  • NBC said last week that 'The Office' would leave Netflix in 2020 to stream exclusively on NBCUniversal's forthcoming streaming service.
  • Yes, but: Over the weekend, news broke that DC Entertainment, which is owned by AT&T's Warner Bros., would license its new series for its hit comic Sandman to Netflix for a pretty price, proving that theory wrong.

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Florida reports another daily record for coronavirus deaths

Nurse practitioner Barbara Corral and a research assistant conduct a COVID-19 vaccination study on August 7 in Hollywood, Florida. Photo: Joe Raedle/Getty Images

Florida's health department on Tuesday reported 276 new coronavirus deaths, surpassing the state's record from July 31.

The big picture: The state also recorded over 5,800 new cases — on the low side for a state that is one of the domestic epicenters for the virus.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 11:30 a.m. ET: 20,126,452 — Total deaths: 737,285 — Total recoveries: 12,380,410Map.
  2. U.S.: Total confirmed cases as of 11:30 a.m. ET: 5,098,452 — Total deaths: 163,533 — Total recoveries: 1,670,755 — Total tests: 62,513,174Map.
  3. States: State testing plans fall short of demand — National Governors Association's bipartisan leaders express concern over Trump's unemployment order.
  4. Axios-Ipsos poll: 1 in 2 has a personal connection to COVID-19.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. World: New Zealand reports first local cases for 102 days — Why you should be skeptical of Russia's vaccine claims.

Exclusive: Facebook cracks down on political content disguised as local news

Illustration: Eniola Odetunde/Axios

Facebook is rolling out a new policy that will prevent U.S. news publishers with "direct, meaningful ties" to political groups from claiming the news exemption within its political ads authorization process, executives tell Axios.

Why it matters: Since the 2016 election, reporters and researchers have uncovered over 1,200 instances in which political groups use websites disguised as local news outlets to push their point of view to Americans.