1,000 hours of Netflix original content coming next year

We knew Netflix was leaning toward original content going forward, but not quite this hard: a letter sent to investors yesterday states it's planning over 1,000 hours of original content for next year, a major increase over 2016.

"We are now in the fourth year of our original content strategy and are pleased with our progress," it reads. "In 2017, we intend to release over 1,000 hours of premium original programming, up from over 600 hours this year."

It has good reason to be pleased, too: quarterly global streaming revenue exceeded $2 billion for the first time (up 36% over last year), attributed partly to success of original shows like Narcos and Stranger Things. Perhaps surprisingly, Netflix is still about breaking even for the 2016 fiscal year, but expects to finally be profitable starting next year.