Netflix To Spend $8 Billion On Original Content In 2018
Netflix is keeping the content coming.
Sharpen your decision-making skills, because Netflix is loading up the roster with even more choices.
By the end of this year, the company aims to have around 700 original TV shows, movies, and specials on its streaming service, Variety reports. Among those 700 productions will be about 80 non-English original productions made outside of the U.S., such as psychological thriller “Dark” from Germany and “Club de Cuervos” from Mexico.
The content increase is reportedly driving up the service’s’s subscriber base.
“Let’s continue to add content — it’s working, it’s driving growth,” CFO David Wells said at the Morgan Stanley Technology, Media & Telecom Conference Tuesday. “People don’t care where the stories come from. We’re about having the best content. We don’t necessarily have to do it ourselves.”
In addition to the increase in original content, the company also plans to place more emphasis on marketing. They’re aiming to spend around $2 billion this year, an increase of more than 50 percent compared to last year’s spending. “We used to think every incremental dollar was best spent on content,” Wells said. “We think marketing is a multiplier on the content spend.”