Netflix To Spend $8 Billion On Original Content In 2018

Netflix has significantly increased its spending on original content. It’s evidently what’s driving subscriber growth for the online streaming service. Netflix aims to make its original content account for the majority of content available on its service. To achieve that aim, it’s going to spend over $8 billion in order make its library over 50 percent original by next year.

The $8 billion that Netflix will set aside is going to be used for producing original TV shows and movies. The company has hinted this figure in the past and it reiterated the goal once again during its third-quarter earnings announcement.

The company’s Chief Content Officer Ted Sarandos mentioned that a big portion of this $8 billion will be used for producing 30 new anime series and 80 new original films all of which will be released in 2018.

Original content is a matter of life and death for Netflix. Having a library that’s full of third-party titles is good for the short term, but what happens when the content owners start pulling the licensing deals? Netflix wants to make sure that it will be able to soar on the back of its original content if that ever happens.

Netflix also reiterated its goal that it wants to create a library that offers 50 percent of its original TV and film content. This isn’t a long-term goal. Netflix wants to get this done by the end of next year.

Adnan Farooqui
Categories: Web
Tags: Netflix