In the wake of releasing its financial earnings statement, Netflix posted up a new mission statement document for investors. The document details various metrics about the company and what it is doing to plan for the future. The most interesting fact to take away from the document is that the company is spending roughly $2 billion per year on content.
Most of that $2 billion expenditure goes towards licensing old TV shows and movies, but some of it is used to pay for its original content. Netflix has also noticed that quality is more important than quantity:
As we've gained experience, we've realized that the 20th documentary about the financial crisis will mostly just take away viewing from the other 19 such docs, and instead of trying to have everything, we should strive to have the best in each category. As such, we are actively curating our service rather than carrying as many titles as we can.
There's plenty more to read about in the 11-page document, but I won't bore you with the details.