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

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

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

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.

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Netflix, he added, will provide content that is cinema infused with television.

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"So, there is not really legal television in India, and what we're trying to do is something really new to the country, which will be kind of cinema infused television". According to a report from the entertainment industry publication Variety, Sarandos said that by the end of 2018, Netflix will have close to 1,000 of its own original series and movies on its streaming service, and 470 of those are set to premiere through the rest of the year. Original TV shows, films, and other productions make up 85% of all new spending on programming, said Spencer Wang, vice president of finance and investor relations speaking at the same event. More than 90% of Netflix subscribers watch its originals regularly, he said, though he did not define what that means. Given it's put $8 billion aside to spend, that's a lot of high-quality original shows and movies in the pipeline. Netflix plans to produce 80 original films in 2018, ranging from "sub-indie" low-budget pictures to "USD 100 million blockbusters", Sarandos added. Sarandos also said that he was surprised it took so long for other companies like Disney to jump into the streaming business, and said that Netflix still has no plans for live sports or news.

He also noted that "one-third of Netflix's total viewing is movies, but the audience for licensed movies in the usual subscription-streaming window is not very passionate".

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