With a splurge of $8 billion this year alone, it’s no secret that Netflix spends big on original content. But now we know just how much of its money it spends on making its own films and TV series: a staggering 85 per cent.
That figure comes from Netflix’s chief content officer Ted Sarandos himself. By the end of this year, Sarandos said, Netflix hopes to have 1,000 pieces of original content on offer. Around 470 of these will come out between now and the end of 2018.
Sarandos made the announcement this week at the MoffetNathanson Media & Communications Summit in New York.
He added that more than 90 per cent of Netflix customers watch the service’s original programming.
However, a recent study said that Netflix viewers preferred licensed content to originals. So who knows who to believe.
Sarandos also said he wasn’t surprised that Disney was launching its own streaming service, saying the move had “been slower than I thought, actually. I don’t know what took them so long.”
And he said money was better spent on original content than licensing films months after their cinematic release. For a big event film that would come to the service 10 months after its theatrical release, “there’s a good chance you’ve already seen it,” he said. “We said, maybe we can put the billion dollars we’d put into an output deal into original films.”