Netflix is the streaming platform that is now spending big on original programming and keeps us hooked and made us all to binge our favorite shows, old and new, and provided us a steady stream of all kinds of new content to binge on. While some streamers have come and gone over the years, Netflix has shown to be a staple and is sticking around and this year they are also spending out big on content.
In a first-quarter financial report, Netflix stated to its shareholders:
“While the roll out of vaccines is very uneven across the world, we are back up and producing safely in every major market, with the exception of Brazil and India. Assuming this continues, we’ll spend over $17B in cash on content this year and we’ll continue to deliver an amazing range of titles for our members with more originals this year than last.”
$17 billion is a lot of money! Netflix knows they have other competitors with Apple, Hulu, and HBO Max, so their safest bet is to keep the content current and keep on updating and keep it coming.
Deadline reports that in 2019, Netflix spent a touch more than $15B and was estimated to have splashed out around $17B in 2020 with analysts including BMO Capital Markets’ Dan Salmon thinking that it could spend up to $26B by 2026.