Technology content trusted in North America and globally since 1999
7,436 Reviews & Articles | 54,593 News Posts

Netflix will be spending $6 billion on content throughout 2016

Netflix will be spending $6 billion over 2016 on content
By: Anthony Garreffa | Business, Financial & Legal News | Posted: Jan 19, 2016 3:53 am

Netflix has made huge waves in the last year or so, and especially with gigantic hits like House of Cards, Orange is the New Black, and Marvel's Daredevil and Jessica Jones.

 

netflix-spending-6-billion-content-throughout-2016_03

 

Well, the streaming content giant is committing a huge $6 billion over 2016, which should secure itself as the leader in streaming content. During the Television Critics Association press tour, Netflix Chief Content Officer Ted Sarandos said: "Is there too much TV?" he asked, adding "I'll pause for a second", knowing that reporters would want to note down his next quote: "We don't think there's too much TV. And if there is too much TV, someone else is going to have to slow down, because we have big plans for 2016 and beyond".

 

Sarandos said that Netflix will have over 600 hours of original content in 2016, adding that 2016's budget is huge. He said: "We're going to spend in 2016 about $5 billion dollars on content on a P&L basis, which means about $6 billion in cash. We are running a global network, one that is not easily comparable either in business or cultural terms ... We're not courting advertisers, because we're not targeting a single demographic".

NEWS SOURCES:Ew.com

Related Tags

Got an opinion on this news? Post a comment below!
loading