Netflix may have started out as an online video streaming service that made it very easy for you to stream TV shows and movies from other networks and studios but it has since grown into a veritable original content powerhouse. The company has gradually been expanding its investment into original shows and movies. It spends billions of dollars annually on original content and the company’s content chief has now said that 85 percent of Netflix’s new spending will now be on original shows and movies.
Netflix’ chief content officer Ted Sarandos has said that almost 85 percent of Netflix’s new spending is being used for original TV shows, movies, and other productions such as documentaries.
It expects to spend a whopping $8 billion on content this year but Sarandos stopped short of breaking up how much of that $8 billion will be used for licensing costs vs spending on original content.
Sarandos did mention that Netflix is going to have around 1,000 original titles in its library by the end of this year with 470 of these titles premiering between now and the end of this year. It’s not like this move isn’t paying dividends for the company as Sarandos pointed out that more than 90 percent of Netflix’s subscribers watch its original programming.
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