Netflix is increasingly betting on original content to bring in more subscribers. Many of Netflix’s original series have proven to be quite popular with viewers and they have brought in a lot of subscribers for the service. Netflix sees value in this strategy which is why it’s sticking to it. The company has said that it’s going to release 1,000 hours of original content in 2017.
“We are now in the fourth year of our original content strategy and are pleased with our progress. In 2017, we intend to release over 1,000 hours of premium original programming, up from over 600 hours this year. The Internet allows us to reach audiences all over the world and, with a growing base of over 86 million members, there’s a large appetite for entertainment and a diversity of tastes to satisfy,” Netflix said in a letter to its shareholders.
This is going to be a significant increase over 2016 as Netflix promised to release around 600 hours of original content this year. It’s not just limited to TV shows, Netflix is bankrolling documentaries, standup comedy specials, movies, a talk show, and more.
This is what helps set Netflix apart from its competition, which is also heavily investing in original content now, as it has become evident that subscribers are willing to pay for a service like Netflix if they get a robust original content library as well.
A company executive recently said that Netflix’s ultimate strategy is to achieve a 50/50 split between licensed content and original programming. A 66 percent increase in original content in the coming year will surely help in achieving that target.
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