Thursday, 24 May, 2018

Netflix's 85% spending towards original content

Netflix chief content officer Ted Sarandos. Image from Twitter/@sarcastard1 Netflix chief content officer Ted Sarandos. Image from Twitter/@sarcastard1
Preston Stone | 18 May, 2018, 00:22

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.

And while movies account for one-third of viewing on Netflix, Sarandos pointed to new, big budget titles as one area where it no longer makes sense for the streaming service to spend a ton of money - because if you really want to catch the latest blockbuster, you probably already saw it in theaters. However, it's still unclear exactly how much will go into Netflix Original films.

Netflix' chief content officer Ted Sarandos has said that nearly 85 percent of Netflix's new spending is being used for original TV shows, movies, and other productions such as documentaries.

Netflix's heavy investment in its originals certainly appears to have paid off so far.

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After trying to, it appears, coax Smokey out of the water, Remus eventually jumped in to push Smokey up to safety. The footage shows a dog, Smokey, struggling to swim in the pool after, what one could only assume, falling in.

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.

The critical reception for Netflix original films has been mixed, and some prominent directors balk at the idea of making movies that will be seen mainly on the small screen. Eight or more will be in Spanish. To put that into perspective, almost half of all original content on the most popular video streaming service in the world will roll out in the next seven months.

Unlike traditional studios, which have increasingly focused resources on expensive action spectacles and sequels, Netflix is producing and acquiring movies across genres, from teen dramas and romantic comedies to horror flicks and sci-fi adventures. "The creators we're talking to, they watch Netflix and they want to be on our network".

Netflix chief content officer Ted Sarandos.

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