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Netflix to spend $7 billion on content in 2018

Netflix goes all-in with content in 2018, plans to spend $7 billion
By: Anthony Garreffa | Mobile Devices, Tablets & Phones News | Posted: Aug 17, 2017 5:29 am

Netflix is unstoppable right now, with the streaming giant eyes wide open with thirst to dominate the digital content world in 2018 with a planned $7 billion on the table.

 

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This year, Netflix coughed up a huge $100 million to secure comedian Jerry Seinfeld for two brand new stand up specials, and a bunch of scripted content. Netflix has also scooped up Grey's Anatomy, Scandal, and How To Get Away With Murder creator, Shonda Rhimes. Rhimes was working with Disney, so Netflix must be mad about that - oh, no matter - Disney are making their own digital streaming network.

 

Netflix has smashed home run after home run in 2017, with nearly 1000 hours of original content. Doubling down on this with a huge, ever-expanding library of movies and other TV shows, the 104 million users on Netflix will never get bored.

 

During a recent interview with Variety, Netflix Chief Content Officer Ted Sarandos said that the streaming giant will splash into 2017 with $7 billion on content. Most of this money will be used to license existing content, which costs a lot. Sarandos said: "The vast majority is still licensed content. We're still a couple years from seeing it go 50-50".

NEWS SOURCES:Bgr.com

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