Netflix to spend $8 billion to make content library 50% original by 2018

By Prasid Banerjee | Published on 17 Oct 2017
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  • Netflix was already spending on original content, but the company added a billion dollars to that budget in its earnings call yesterday.

Netflix to spend $8 billion to make content library 50% original by 2018

Netflix is going all out with original productions. The company announced that it wants to increase investments in Netflix Originals to a whopping $8 billion. With this move, Netflix plans to make its content library 50% original by 2018, the company said in its third quarter earnings call yesterday. The video streaming platform already had a big budget for producing originals, but added another billion dollars to it yesterday, bringing the number up to $8 billion. The announcement was made by Ted Sarandos, Chief Content Officer, at Netflix.

Further, Sarandos also said that a big part of this investment will be used to produce 30 new anime titles, along with 80 new movies, all of which are to be released in 2018. Netflix had earlier announced a bunch of new anime titles that were to come to the platform later. The first of these was Vampire Weekend, which was debuted last month. The company is also going to add titled like Baki The Grappler, while shows like Knights of Sidonia and Ajin: Demi-Human are already available.

The company also raised its subscription prices in Canada, US and some other countries recently. The company now charges an extra dollar ($10.99) for its two-screen HD plan in the US, while its 4K subscription costs customers $13.99. Netflix hasn’t talked about any planned price hikes for India yet.

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Prasid Banerjee

Trying to explain technology to my parents. Failing miserably.

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