January 17, 2019

Netflix's 85% Of New Spending Will Be On Original Shows And Movies

18 May 2018, 12:18 | Joann Bryant

Netflix exec says 85 percent of new spending will go towards original content Anthony Ha @ 8 hours

Netflix exec says 85 percent of new spending will go towards original content		
	Anthony Ha

   	8 hours

Despite films produced by the company being banned from the Cannes film festival, Netflix continues to grow: it added 7 million new subscribers in the first quarter of 2018, bringing its total global subscribers to 125 million.

Netflix will have around 1,000 "originals" by the end of the year, according to the company's chief content officer Ted Sarandos.

According to the Reuters, Netflix's aggressive strategy is due to complaints that its movie library is "stale". The company told Reuters that the 33 Netflix films released so far this year have been watched more than 300 million times by more than 80 million account holders worldwide. 470 new originals between now and the end of the year does sound a little excessive, but when the margins are so much greater than on licensed content, not every single programme needs to be a hit. Netflix already revealed that it would spend $8 billion this year for overall content.

Usually SVOD platforms raise their subscription rates seldom but a recent survey found that Netflix subscribers might be willing to pay even more than they do now. They claim to be averaging 9 million viewers per film. Eight or more will be in Spanish.

The decision to ramp up its original films production is no secret and has been oft mentioned by the Netflix management.

Netflix plans on producing and purchasing movies from several genres, including teen dramas sci-fi adventure and horror.

Speaking at the MoffettNathanson Media & Communications Summit 2018 in NY on Monday, Sarandos said that 85% of new spending will go toward original content in 2018.

Further, Netflix plans on releasing at least 17 Netflix films in languages other than English, which include French, Arabic, Japanese, Hungarian and Russian, such as R-rated French film, Young and attractive.

Other News

Trending Now

Cleveland Browns, Baker Mayfield to be featured on HBO's 'Hard Knocks'
A 30-person NFL Films crew will be in Browns training camp at team headquarters in Berea, Ohio shooting more than 2,000 hours of footage over the course of the series.

'Lando' Movie in the Works, Says Lucasfilm Chief Kathleen Kennedy
Premiere blames a miscommunication between Kennedy and the interviewer for the previous erroneous quote. There's a fluidity to Donald and Billy Dee Williams' [portrayal of Lando's] sexuality.

Zuckerberg to appear before EU Parliament, but snubs the United Kingdom - again
But the decision to hold the meeting with the European Parliament behind closed doors has angered others. Yet the question of whether Zuckerberg should explain himself publicly remains a point of contention.

Summit of Hawaii's Kilauea volcano erupts, launching plume of ash and smoke
He said he's lost hundreds of reservations and had just three guests Thursday instead of the 12 to 14 he has typically served. The agency advises people in the path of the ash plume to shelter in place.

Donald Trump officially discloses reimbursing lawyer Michael Cohen
The report said the president did not have to disclose the payment but was doing so "in the interest of transparency". Cohen made the solicitation to al-Rumaihi at a meeting in Trump Tower in NY on December 12, 2016, the Post reported.

FDA approves first non-opioid drug for treating opioid withdrawal symptoms
The drug Lofexidine, marketed as Lucemyra, will be the first non-opioid treatment for managing withdrawal symptoms. To prevent such symptoms, doctors typically recommend slow withdrawal from the drug, the FDA said.

Actress' unborn baby dies after Park Slope crash
Two months after her daughter was killed in a auto crash, Broadway star Ruthie Ann Miles suffered another tragedy. It has now been confirmed that Ruthie has lost the baby girl she was due to give birth to this month.

Nintendo at E3 2018
Nintendo announced on Wednesday fans will need to reserve play slots to play Super Smash Bros. for Switch before June's show. Nintendo will also give out exclusive Nintendo Switch pins to random fans who bring their console with them to the show.

Riverside judge overturns California's right-to-die law
California Attorney General Xavier Becerra, who says he strongly disagrees with the ruling, says he plans to do so. Worse, for patients, "the so-called right to die very quickly becomes the duty to die", Stevens said.

YouTube just added songwriter, label and publisher credits to millions of songs
YouTube follows in Spotify's footsteps-the streaming service added credits back in February. The new section will show up on over half a billion videos.