Netflix is continuing to produce original content and is believed to be spending $8 billion dollars on new content in 2018, including 80 new movies, TV series, documentaries and comedy. Netflix first started producing original content some five years ago and had successes with such shows as House of Cards. The effect of Netflix’s success has caused Hollywood studios to cut back on its content.
Netflix is spending around $6 billion this year on content and it was expected that they would be spending $7 billion next year, but the firm has now increased that to $8 billion.
It is expected that at least 50% of the Netflix content library will be originals by the end of next year. Unlike the film industry that premieres its movies in a cinema prior to releasing them to the home market, Netflix releases its movies at the same time worldwide and this has caused concern for cinema owners as they like to show new movies first.
The latest figures show that Netflix has around 109 million subscribers worldwide, with 53 million in the US. Netflix expects to have 115 million subscribers at year-end.
Netflix will spend $8 billion on original content in 2018
