Friday, 17 August, 2018

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

Netflix exec says 85 percent of new spending will go towards original content Netflix to allocate 85 per cent of its funds to original content; announces news series with Guillermo Del Toro
Julia Gonzales | 16 May, 2018, 10:41

Aside from classics, Netflix has made bank by introducing their own original content. Programs such as Strangers Things, Bright, Orange is the New Black, Narcos, Master of None and more are all helmed by Netflix itself.

In case you had any doubts that original content is a big priority at Netflix, Chief Content Officer Ted Sarandos estimated that 85 percent of the company's total spending is going to new shows and movies.

Variety is reporting nearly 500 of those original shows and movies - 470 to be exact - will be released on Netflix between the date of publishing (Mid-May) through the end of 2018.

Ted didn't reveal much while speaking at the MoffettNathanson Media & Communications Summit 2018 in NY, but we do know that the platform is not moving towards live sports or news.

Blake Farenthold Won't Repay $84000 Sexual Harassment Settlement
In December 2017, Farenthold promised to return the money but never did. In other words, he's now a lobbyist to lawmakers like his former self.

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.

In another startling disclosure, the streaming giant also announced that by the the end of this year, there will be 1000 original shows and films for viewers to choose from. Sarandos said the company has no current plans to go into live TV programming. Netflix also sees an opportunity to create more unscripted programming which at present makes up 7 percent of its portfolio, compared to 40 percent of viewing on US television.

Netflix is producing, acquiring and plans to release 80 films this year ranging from "sub-million dollar titles" to "US$100 million-plus blockbusters", said Sarandos.

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