Netflix is spending even more on original content than previously thought. The firm is predicted to spend up to a whopping $13 billion (£9.75 billion) on original films and TV shows this year – that’s $5 billion more than previously reported.
The prediction comes courtesy of The Economist. It forecast the service would spend between $12-13 billion on original content this year.
Back in October, Netflix said it would spend $8 billion on original content this year. Looks like it may have underestimated.
To put it in perspective, US network HBO spent $2.5 billion on original content last year, while the more mainstream CBS spent $4 billion.
The Economist also says the streaming service will make an incredible 82 feature films this year. That’s two more than Netflix itself estimated. Again, that dwarfs most major studios: Warner Brothers is making 23 original films this year, and Disney just 10.
Goldman Sachs predicts Netflix’s spending could rise to $22.5 billion by 2022. Is there any stopping it?
Source: The Economist