Netflix Will Spend $8 Billion on Original Content in 2018
It’s been announced that in the next year, Netflix is planning spend over $8 billion on original content. This will be including both films and shows.
Netflix expect to release 80 original films in 2018. Ted Sarandos, chief content officer of Netflix, said that these films “range anywhere from the million-dollar Sundance hit, all the way up to something on a much larger scale.” In fact, the company aims to ensure that its library is 50% original content by the end of 2018.
Netflix CFO David Wells also added that this new budget isn’t related to the price increase across Netflix plans, which has reportedly been in the works for a long time.
In addition to already big titles like 13th and Stranger Things, Netflix will also be producing Will Smith’s Bright and a new series of Shonda Rhimes titles.
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